Babcock International Group PLC (BAB.L)
Latest Key Developments (Source: Significant Developments)
Babcock International Group Plc:Says further to the announcement of Nov. 19.Says it has entered into contracts with the UK Ministry of Defence for the acquisition of the Defence Support Group (DSG) and its associated service provision contract.Says through this Babcock will exclusively provide the maintenance, repair, overhaul and storage of a range of current military vehicles and light weapons.Says it will acquire DSG for a consideration of 140 mln Pounds and estimates that the service provision contract and output based services will be worth c 2 bln Pounds over ten years.Says it is expected the acquisition will complete on March 31, 2015 and the service provision contract will start on April 01, 2015. Full Article
Babcock International Group PLC:Says an interim dividend of 5.5 pence per 60 pence ordinary share was declared after the balance sheet date.Says it will be paid on Jan. 14, 2015 to shareholders registered on Dec. 12. Full Article
Babcock International Group PLC gives FY 2015 revenue guidance below analysts' estimates-conference call
Babcock International Group PLC:Expects FY 2015 revenue growth in low double digit.Reported revenue of 3.547 bln pounds in FY 2014.FY 2015 revenue of $4.544 bln pounds-Thomson Reuters I/B/E/S. Full Article
Babcock International Group PLC:Says Cavendish Fluor Partnership, a joint venture between Cavendish Nuclear (a wholly owned subsidiary of Babcock International Group PLC) and Fluor Corp, has on Sept. 1, 2014, been formally awarded contract to manage 12 UK nuclear sites.And their respective decommissioning programmes, having officially taken ownership of Magnox Ltd and Research Sites Restoration Ltd (RSRL).Contract awarded to Cavendish Fluor Partnership by Nuclear Decommissioning Authority (NDA) takes effect immediately and makes the Cavendish Fluor Partnership new Parent Body Organisation for two Site Licence Companies, Magnox and RSRL.Allowing for changes to bid scope the total contract value is expected to be around 4.2 bln pounds for 13.5 years.Cavendish Fluor Partnership will be responsible for the delivery of 12 sites to an agreed and defined point for each; either interim end state or into care and maintenance. Full Article
LONDON British defense company BAE Systems has won a contract worth nearly 300 million pounds ($425.10 million) to provide in-service support to the Royal Air Force's fleet of fast jet training aircraft, the Ministry of Defense said on Monday.