BRITISH AEROSPACE PLC <BAEL.L> 1986 YEAR
Shr 51.4p vs 56.4p
    Div 11.0p making 17.4p, a 10 pct increase on 1985
    Turnover 3.14 billion stg vs 2.65 billion
    Pretax profit 182.2 mln vs 150.5 mln
    Tax 53.8 mln vs 23.5 mln
    Note - comparisons restated.
    Trading profit 217.2 mln vs 211.1 mln
    Launching costs 47.6 mln vs 51.6 mln
    Share of profit of related companies 3.6 mln vs 3.4 mln
    Net interest receivable 9.0 mln vs 12.4 mln payable
    Extraordinary debit 44.1 mln vs nil
    Trading profit includes  -
    Civil aircraft 7.7 mln loss vs 2.5 mln loss
    Military aircraft and support services 146.0 mln vs 148.3
mln
    Guided weapon and electronic systems 139.7 mln vs 127.8 mln
    Space and communications 1.9 mln vs 2.0 mln loss
    Company funded research and development 62.7 mln loss vs
54.9 mln
    Reorganisation costs nil vs 5.6 mln loss
    Launch costs include -
    BAe 146 17.1 mln vs 27.3 mln
    Airbus 19.4 mln vs 6.9 mln
    BAe 125-800 0.3 mln vs 1.5 mln
    ATP 10.8 mln vs 15.9 mln
 REUTER
