- Having been hit in recent years by government spending cuts, BAE Systems (OTCPK:BAESY) said it believed the worst was over as it forecast that earnings would return to growth in 2015.
- The company also suggested it could benefit from heightened global military activity, including the battle against Islamic State in Iraq and rising tensions in Ukraine.
- BAE posted EPS of 38 pence, down 9.5% on a year ago but just ahead of the consensus forecasts of 37.7% and in line with its own forecast of a 5%-10% fall from the comparable result for 2013.
- Earnings a share should be "marginally higher" this year assuming additional aircraft and ship orders can be secured, the company said.
- BAESY -0.8% premarket