Newspaper article The Evening Standard (London, England)

BAE Targets New Markets as Obama Raises Hopes of Peace; DEFENCE

Newspaper article The Evening Standard (London, England)

BAE Targets New Markets as Obama Raises Hopes of Peace; DEFENCE

Article excerpt

Byline: ROBERT LEA

HOPES for fewer wars under new American President Barack Obama are leading Britain's arms giant BAE Systems to seek new markets such as US homeland security and emerging powers like India.

"We are focusing on developing businesses like India as our seventh major international market and on national security in the US, our biggest market specialising in providing intelligence and information and data for agencies," said chief executive Ian King.

"We have been very active in India partnering with companies and through Detica, our acquisition last year, we will be better placed in the national security market." But selling arms, military vehicles and systems to the US and other big customers such as Saudi Arabia has been good business for BAE.

It today reported a 31% surge in underlying pre-tax profits to [pounds sterling]1.9 billion in 2008 on sales 18% higher at [pounds sterling]18.5 billion.

But an increase in defence budgets is not the main reason for the growth. …

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