Barrow shipyard leads way despite drop in profits for BAE
Last updated at 16:48, Friday, 22 February 2013
PROFITS at BAE dropped by almost seven per cent last year it has been revealed – but Barrow has still had a positive year, according to shipyard bosses.
BAE Systems’ accounts showed profits have fallen by 6.6 per cent to £1.3bn, while sales also reduced by seven per cent to £17.8bn in 2012.
The company has warned sales in the UK and US, which account for 20 per cent of business, are expected to beconstrained for the year ahead.
However, contracts elsewhere more than doubled last year to £11.2bn, leading to an eight per cent increase in the company’s order backlog to £42bn.
That has been fuelled by strong activity in Barrow, where the shipyard has secured a number of high-value contracts including £1.2bn for the design, build, test and commissioning of Audacious, the fourth submarine in the Astute class, and two awards of £328m and £314m for ongoing design work on the Successor programme to replace the Vanguard class submarines.
John Hudson, managing director of Maritime – Submarines, said: “Delivery of the second Astute class submarine Ambush was a hugely significant milestone for the business.
“To then gain contract acceptance in December, just three months after it left Barrow, was a major success, further highlighting the progress we have made across the submarine programme, as well as demonstrating the fantastic capabilities of the class.
“It was especially pleasing to see significant order intake in the year, with orders for further submarines, design of the Successor submarine and combat systems support.”
With reduced activity in support of US operations in Iraq and Afghanistan, BAE has targeted growth in cyber, intelligence and security businesses. It has also reduced its headcount by 3,600 over the last year, bringing the total reduction over the past four years to around 26,000 worldwide.
First published at 16:36, Friday, 22 February 2013
Published by http://www.nwemail.co.uk
Have your say
Be the first to comment on this article!
Make your comment
- Race against time to Cumbria and Lancashire save maternity units
- Staff moved to tears by damning report into Barrow maternity failures
- Supermarket approved for Ulverston
- New headteacher appointed at Millom School
- Record day for young musicians at Ulverston contest
- The Pearl Izumi Tour Series BAE Systems Barrow Stage 2014 (3 comments)
- Thefts at South Cumbria churches
- Six jobs go as Barrow loan shop closes
- Parents of starving Ulverston children in court tomorrow for sentencing
- Police appeal after damage to Barrow house
- Fylde striker and ex-Barrow AFC player warns - title race not over yet
- Aussie ace out to impress for Barrow Raiders
- Top GB prospect backs Barrow fighter
- Charities benefit from Barrow boxing night
- Players Quick off the mark at Furness College: with picture gallery
- Duddon paddlers claim eight first places
- Four Duddon canoests in frame for world champs
- Students show skills at Furness festival: with picture gallery
- Schools cross country at Walney draws nearly 200: with picture gallery
- St Bernard's taste county finals success: with picture gallery
Visit our websites for...
- Owners vow to rebuild after alleged drink driver smashes into Barrow chippy (13 comments)
- Starving Ulverston children left ‘looking like urchins from Oliver Twist’
- Walney bridge to close this weekend (42 comments)
- Cyclist still in serious condition following Ulverston crash at the A590 junction
- Barrow hotel to be demolished (39 comments)
Great Daffodil appeal 2015
Homes and gardens 21
Power to switch
Walk to remember
Choosing a secondary school
To save our contact details direct to your smartphone simply scan this QR code
|Evening Mail Going Out|