BAE Warns Of Shutdown Impact
FX Solutions | Oct 10, 2013 11:17AM ET
BAE Systems (BAE ) has warned that the ongoing government shutdown in the US could yet have an impact on its business across the Atlantic.
The aerospace company revealed its financial performance is yet to be affected by the shutdown, which started earlier in the month after Congress failed to agree a new budget deal.
In its latest interim management statement, BAE suggested that the shutdown may have a negative effect on the state of its business in the US if the shutdown does not end soon.
The firm also revealed that its earnings could be hit by 6p to 7p a share unless negotiations on a deal to supply Saudi Arabia with 72 Typhoon jet fighters is completed by the end of the year.
BAE is still in talks over the contract, but an agreement is yet to be reached as discussions stalled over the final price.
The share price of BAE Systems rose on the back of the announcement, with stocks in the aerospace firm up by 1.59 per cent by 12:20 BST today (October 10).
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