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Babcock International Group PLC (BAB.L)

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Latest Key Developments (Source: Significant Developments)

Babcock full year profit before tax up 7.6 percent to 494.8 million pounds
2:11am EDT 

May 24 (Reuters) - Babcock International Group Plc :Final dividend up 9.6 percent to 21.65 pence per share.Total dividend up 9.1 percent to 28.15 pence per share.7.7% growth in underlying revenue.£19 billion order book and £10.5 billion pipeline.76% of revenue in place for 2017/18; 52% in place for 2018/19.Net debt reduced to £1,173.5 million.Our long-term contracts continue to provide us with excellent visibility of future revenues.Expect to continue to generate sustainable growth this year and over medium term.".Operating profit up 6.5 percent to £574.8m .Profit before tax £494.8m up 7.6 percent.Source text for Eikon: [ID:].  Full Article

Babcock named preferred bidder for Royal Navy support contract
Monday, 3 Apr 2017 02:18am EDT 

Babcock International Group Plc : Preferred bidder for Royal Navy support contract .Selected as preferred bidder for all four elements of a ministry of defence programme, potentially worth in the region of 360 mln stg over 7 years.  Full Article

Babcock agrees with the UK over termination of Magnox contract
Monday, 27 Mar 2017 02:22am EDT 

Babcock International Group Plc : Magnox decommissioning contract . Come to a mutual agreement with UK's nuclear decommissioning authority to end Magnox decommissioning contract at end of August 2019 . Has become apparent that work that needs to be done at 12 Magnox sites is now materially different in volume from that specified in NDA's tender . This puts contract at risk of a legal challenge . Change to contract will result in removal of around 800 million stg from group's 20 billion stg order book . This would an annual step down in revenue of around 100 mln stg (less than 2 pct of group's turnover) from financial year 2020/21 . Group would expect to replace lost revenue in normal course of business over that timeframe . Around 1 billion stg will be removed from bidding pipeline; new identified opportunities likely to result in bidding pipeline being broadly unchanged . Contract change is not expected to have any negative financial impacts over next three .Do not expect this announcement to change financial guidance we expect to give at group's full year results in May.  Full Article

Babcock sees global revenue growing to around 30 pct over next five years
Tuesday, 14 Mar 2017 03:00am EDT 

Babcock International Group Plc :Has ambitions to grow global revenue to around 30 percent over next five years (FY16: 22 pct).  Full Article

Babcock International says H2 continued to see trading in line with expectations
Tuesday, 28 Feb 2017 02:00am EST 

Babcock International Group Plc : Trading update . Has traded in line with expectations during period, and outlook for full year remains unchanged . Addition to continuing to progress existing contracts, new order intake remained strong, maintaining our order book and pipeline at £30.8 billion . Second half of year has continued to see trading in line with our expectations .Board continues to expect good opportunities for growth..  Full Article

Babcock's bid for French Air Force contract recommended by France's DGA
Monday, 21 Nov 2016 06:13am EST 

Babcock International Group Plc : Babcock bid for French defence contract recommended by Direction Générale de l'Armement (DGA) . Babcock's share of FOMEDEC contract is expected to be worth over 400 mln euros, around half of which relates to financing of assets for customer . Final contract award will be subject to successful completion of French Ministère de la Défense's approval process . Currently in advanced discussions with a leading French industrial partner regarding execution of 11 year contract to provide new training aircraft .France's DGA recommended it be awarded contract to provide, maintain training platform, related services for French Air Force.  Full Article

Babcock says awarded defense contract from General Dynamics Electric Boat
Thursday, 13 Oct 2016 08:14am EDT 

Babcock International Group Plc : Contract award . As been awarded a competitive contract from General Dynamics Electric Boat . Says contract for this batch of CMC components is expected to be worth around 80 mln stg .Towards end of 2016 and expected to complete in early 2020s, with further opportunities expected from future batches.  Full Article

LMT says Sikorsky and Babcock sign 10-yr agreement for support for Babcock's S-92 helicopter fleet
Monday, 11 Jul 2016 08:22am EDT 

Lockheed Martin Corp :Sikorsky and Babcock Mission Critical Services Ltd today signed a 10-year agreement providing babcock's S-92 helicopter fleet with extended support for its aftermarket material needs.  Full Article

Babcock post 8 pct rise in FY revenue, bright outlook
Wednesday, 25 May 2016 02:13am EDT 

Babcock International Group Plc : Continuing track record of growth driven by strong operational performance - key markets remain positive . Over past year order book has been maintained at 20 billion pounds since reaching that level at end of last financial year . Mains confident in underlying performance of group and expects to achieve further good progress this year and beyond. . Total revenue for year was 4,842.1 million pounds ($7.07 billion), up 8 percent. . Visibility provided by strong order book and bidding pipeline . Full year underlying operating profit rose 4 percent to 539.7 million pounds . Recommends a 9 percent rise in final dividend per share for 2016 of 19.75 pence per share . Total dividend up 9 percent to 25.8 pence per share . Full year revenue rose 8 percent to 4.842 billion pounds . Profit before tax up 10 percent Further company coverage: [BAB.L] ($1 = 0.6845 pounds) (Reporting by UK bureau) ((elizabeth.oleary@thomsonreuters.com;)).  Full Article

Airbus says awarded 500 mln stg helicopter contract in UK
Friday, 20 May 2016 07:10am EDT 

Airbus Group : Airbus helicopters in UK has been selected by Ascent as aircraft service provider for UK’s military flying training system . Contract worth 500 million stg over 17 years, will see Airbus helicopters deliver aircraft and support solution over the course of 18 months .Says ready to start training in April 2018.  Full Article

More From Around the Web

Babcock selected as preferred bidder for Royal Navy support deal

April 3 Britain's Babcock International Group Plc said it was selected as a preferred bidder for a deal worth about 360 million pounds ($451.62 million) to provide support services to Royal Navy warships over seven years.