Record orders at BAE Systems as European defence spending rises

Weapons maker's full-year pre-tax profits top 3bn and it expects sales of more than 30bn next year

Britain's biggest weapons manufacturer, BAE Systems, has reported record orders as the European defence industry gears up for increased spending sparked by the Ukraine war.

The company, a member of the FTSE 100, said it expected sales next year to top 30bn, as it reported annual profits before interest and tax of more than 3bn for the first time in 2024.