BAE Systems profit falls 6 pct, U.S. and UK outlook constrained

LONDON Thu Feb 21, 2013 2:13am EST

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LONDON Feb 21 (Reuters) - BAE Systems posted a 6 percent fall in 2012 profit on Thursday, weighed down by continued uncertainty over cuts to the U.S. military budget and unresolved discussions with Saudi Arabia over the pricing of a key contract.

Europe's largest defence contractor, whose proposed merger with European planemaker EADS collapsed last year, said earnings before interest, tax and amortisation was 1.895 billion pounds ($2.9 billion) for the year to the end of December, down from 2.025 billion pounds in the previous year.

"Growth opportunities in some segments of the U.S. and UK markets are identified, but the overall outlook in both countries is expected to continue to be constrained," the company said in a statement.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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