Stalled Saudi Project Hurts BAE

LONDON [MENL] -- A stalled multi-billion-dollar Saudi fighter-jet project
has hurt BAE Systems.
BAE has reported a 14 percent drop in net profits in 2012 amid the
suspension of a $10 billion project to supply the Eurofighter to the Royal
Saudi Air Force. The company, which asserted that Eurofighter deliveries to
Riyad would continue, said group revenue also declined by seven percent.