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Babcock International Group PLC (BAB.L)

BAB.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Babcock To Bid For UK Ministry Of Defence's 1.25 Bln Stg Contract With Team Of Partners
Monday, 8 Jan 2018 02:00am EST 

Jan 8 (Reuters) - Babcock International Group Plc ::BABCOCK INTERNATIONAL - TO LEAD A TEAM OF INDUSTRY PARTNERS IN A BID FOR UK MINISTRY OF DEFENCE'S (MOD) NEW £1.25 BILLION TYPE 31E GENERAL PURPOSE LIGHT FRIGATE PROGRAMME​.  Full Article

UK's Babcock H1 revenue up 6 pct, sees more progress beyond this year
Tuesday, 21 Nov 2017 02:10am EST 

Nov 21 (Reuters) - Babcock International Group Plc six months ended 30 September 2017:‍profit before tax 181.9 million pounds​.‍we expect a slight improvement in overall group margin during second half​.‍revenue 2,316.7 million pounds​.‍Babcock remains confident that full year results will be in line with our expectations​.‍we will make further good progress beyond this year​.‍£146 million increase in underlying revenue; up 6%​.‍£11 million increase in underlying profit before tax; up 5%​.‍order book and bid pipeline increased to c£31 billion (fy17: c£30 billion)​.‍92% of revenue in place for this financial year; 59% of revenue in place for 2018/19​.‍despite volatile background, we continue to see opportunities across all our markets​.‍board continues to expect full year results to be in line with expectations​.‍we remain confident of making good progress this year and beyond.​.  Full Article

Babcock International Group awarded new regional contracts by UK Ministry of Defense
Friday, 17 Nov 2017 02:23am EST 

Nov 17 (Reuters) - BABCOCK INTERNATIONAL GROUP PLC :CONTRACT AWARD.‍AWARDED THREE NEW REGIONAL CONTRACTS BY UK MINISTRY OF DEFENCE UNDER TECHNICAL SUPPORT SERVICES PROVISION FOR 17 SITES ACROSS WHOLE OF UK​.‍WORTH TOTAL AROUND £160 MILLION FOR FIRST FIVE YEARS FOR ALL THREE REGIONS, WITH OPTIONS FOR FURTHER TWO ONE-YEAR EXTENSIONS WHICH COULD INCREASE VALUE TO AROUND £220 MILLION​.  Full Article

Babcock Intl trading in line, outlook unchanged​
Wednesday, 20 Sep 2017 02:00am EDT 

Sept 20 (Reuters) - Babcock International Group Plc :‍group is trading in line with our expectations and outlook for year is unchanged​.‍revenue visibility has continued to improve, with 89% of revenue now in place for 2017/18 and around 57% for 2018/19​.‍order book and bid pipeline of opportunities have remained stable, and continue to provide confidence in our ability to grow revenue as expected over medium term​.  Full Article

Babcock says financial year has started well, FY outlook unchanged
Thursday, 13 Jul 2017 02:00am EDT 

July 13 (Reuters) - Babcock International Group Plc :Annual general meeting trading update.Financial year has started well, with group trading in line with our expectations and outlook for year unchanged.Since full year results announcement on 24 May 2017, visibility has continued to improve.82 pct of revenue now in place for 2017/18 and 55 pct for 2018/19.Order book and bid pipeline of opportunities have remained stable at around 19 billion stg and 10.5 billion stg respectively.Has continued to make progress over last seven weeks, with work proceeding as expected on our long-term.Awards since start of financial year include a new contract.Contract worth up to 500 million stg, to operate a fleet of specialist fixed-wing aircraft for Norwegian Health Service from summer.Expect to further reduce debt during second half of 2017/18 and achieve a net debt to EBITDA ratio of around 1.6 times by end of year.  Full Article

Babcock wins 500 mln stg contract for Norwegian Health Service
Thursday, 29 Jun 2017 02:17am EDT 

June 29 (Reuters) - Babcock International Group Plc ::contract award.Awarded new contract to operate new aircraft fleet for Norwegian Health Service.Contract is worth around 500 million stg for full 11 years.  Full Article

Babcock full year profit before tax up 7.6 percent to 494.8 million pounds
Wednesday, 24 May 2017 02:11am 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

Armonia-controlled GSA looking at growth abroad, Babcock's Italy assets - Armonia CEO

MILAN, Feb 14 Security services group Gruppo Servizi Associati (GSA) wants to grow in Spain, France and Switzerland and is also looking at the Italian assets of Babcock International, the head of the private equity fund controlling the company said.