Defence giant BAE Systems has hailed a £300 million investment in Glasgow as a new warship factory has been approved.

The news comes against the backdrop of an "elevated threat environment" after Russia's invasion of Ukraine as it posted 2022 results that include record orders.

In Scotland, it secured a £4.2 billion contract from the Ministry of Defence to build a further five Type 26 frigates, sustaining more than 4,000 jobs and securing shipbuilding at BAE Systems’ facilities in Glasgow into the 2030s.

It also achieved key milestones on the Type 26 frigate programme with HMS Glasgow, the first in class entering the water for the first time and moving to the Scotstoun shipyard to continue further outfit, testing and commissioning.

It hailed the £300m investment in the future of warship shipbuilding in Glasgow, with the new ship assembly hall in Govan given the green light and a new Applied Shipbuilding Academy in Scotstoun.

Britain's biggest defence firm reported its highest order intake to date of £37.1 billion for last year, which saw its order backlog jump to £58.9 billion as countries bolster their defences in response to Vladimir Putin's invasion of Ukraine a year ago this week.

The FTSE 100-listed firm posted flat operating profits of £2.4 billion, but said earnings on an underlying basis rose 5.5% to £2.5 billion as sales on its preferred measure rose 4.4% to £23.3 billion.

BAE Systems said: "While it is tragic that it took a war in Europe to raise the awareness of the importance of defence around the globe, BAE Systems is well positioned to help national governments keep their citizens safe and secure in an elevated threat environment."

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