BAE Systems forecasts earnings growth of up to 10 percent in 2016 ​

LONDON - BAE Systems, the world's third-largest defense contractor by revenue, forecast that annual earnings would grow by up to 10 percent this year as defense budgets recover and demand for cyber and commercial electronics grows.

BAE posted adjusted underlying earnings per share (EPS) of 36.6 pence in 2015, although on reported level it was helped by tax provisions and currency, coming in at 40.2 pence against 38 pence the year before.

In 2016, BAE forecast that EPS would grow by between 5 percent and 10 percent from the 36.6 pence level, helped by a strong performance from its electronic systems unit, whose products are used to control aircraft. -Reuters