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BAE Systems' first-half earnings rise 11 percent, says on track for year

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BAE Systems' first-half earnings rise 11 percent, says on track for year

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LONDON (Reuters) – BAE Systems <BAES.L> reported a better-than-expected 11 percent rise in first-half earnings of 945 million pounds ($1.25 billion) on Wednesday, and said it was sticking to its full-year target despite a softening in demand in cyber & intelligence. Chief executive Charles Woodburn, who took over from Ian King on July 1, said the performance was consistent with his expectations, and the group was well placed to benefit from an expected increase in defence budgets.

(Reporting by Paul Sandle; editing by Kate Holton)
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