November 21, 2018 / 10:37 AM / 24 days ago

Babcock sees review of returns policy once in right shape-CEO

EDINBURGH, Nov 21 (Reuters) - British engineering and defence services firm Babcock expects to review shareholder returns policy once it is in the right shape, Chief Executive Archie Bethel told analysts on Wednesday.

“We recognise the same as everyone else how low the shares are being valued. It’s difficult for us to really understand why that is the case because we have pretty much (grown) the business year-on-year for the last 15 years,” Bethel said after first-half results.

The group was focusing on “getting into the right shape and degearing and as we do that ... I’m pretty sure we will be seriously reviewing shareholder return policy,” he said. (Reporting by Elisabeth O’Leary; editing by Kate Holton)

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