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BAE Systems announces 2021 full-year results

Posted on - 28th February, 2022 - 1:38pm | Author - | Posted in - Business, Fylde News, Preston News, Warton
Two BAE Systems apprentices working in Samlesbury
Two BAE Systems apprentices working in Samlesbury

The full-year results have been released for BAE Systems which employ a large number of people in Preston.

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Employees across the UK Air business are involved in helping to develop future combat air and defence information systems and delivering support, maintenance and training to the Royal Air Force’s Typhoon, F-35 Lightning and Hawk fleets.

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Around one in ten of all manufacturing jobs in Lancashire are held by staff at BAE Systems, which reflect the region’s role as a hub for advanced engineering and the home of key programmes including Typhoon and Tempest, the UK’s future combat air system.

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Recent research from Oxford Economics shows they spend in excess of £70 million with more than 200 suppliers in Lancashire and have partnered with local companies on initiatives such as their Warton-based Factory of the Future, a digitally-connected facility that is pushing the boundaries of manufacturing technology.

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In Samlesbury, they are continuing to invest in their Academy for Skills and Knowledge, which will welcome a record number of apprentices this year.

Charles Woodburn, Chief Executive, said: “Our strong results reflect the outstanding efforts of our employees who have continued to adapt and work closely with our customers, suppliers and trades unions to deliver capabilities which keep nations and citizens safe.

“We are continuing to evolve our business, increasing our investments in advanced technologies to deliver differentiated solutions to meet our customers’ priorities.

“Our diverse portfolio, together with our focus on programme execution, cash generation and efficiencies, is helping us to navigate the challenging operating environment, meaning we are well-positioned for sustained top-line and margin growth in the coming years.”

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