UPDATE 2-BAE Systems predicts 2020 growth despite Saudi ban [Reuters]
MTU AERO ENGINES UNSP/ADR (MTUAY)
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Source: Reuters
BAE Systems predicts 2020 growth despite Saudi ban LONDON (Reuters) - Britain’s BAE Systems ( BAES.L ) forecast another year of growth in 2020, saying the company was well-placed to take advantage of increased defence spending that could help to offset any future impact from a German ban on arms exports to Saudi Arabia. Full-year results announced on Thursday at the upper end of forecasts, helped to drive shares 3.5% higher at 664.6 pence by 0954 GMT. The maker of Typhoon fighters, combat vehicles and Astute Class nuclear-powered attack submarines, has been affected by a German ban announced in 2019 on exporting arms to Saudi Arabia. The export ban has put a question mark over a multi-billion pound deal to sell 48 Eurofighter Typhoon jets to Riyadh, built by a BAE-led consortium that also includes MTU Aero Engines ( MTXGn.DE ) and Airbus ( AIR.PA ). CEO Charles Woodburn shrugged off its impact, saying there were other opportunities. “A number of European countries are looking to
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