May 23, 2018 / 6:16 AM / 5 months ago

Babcock sees steady organic growth, helped by international demand

LONDON, May 23 (Reuters) - British engineer Babcock said it expected to deliver low mid-single digit organic revenue growth and stable margins in 2018/19 after international sales and a restructuring helped the group to hit its annual targets.

The company, which provides specialist support and services to groups including Britain’s Ministry of Defence, posted a 2.8 percent rise in underlying revenue to 5.4 billion pounds ($7.2 billion), in line with forecasts, while profit rose 3.6 percent to 512 million pounds. ($1 = 0.7461 pounds) (Reporting by Kate Holton; editing by Sarah Young)

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