Babcock profits leap by a third

Support services group Babcock International has reported a 34% growth in pre-tax profits for the first half today (Thursday) and said current trading is in line with expectations.

Pretax profits rose to £9.4m in the six months to 30 September 2003 from £7m in the same period last year. Operating profits from continuing operations, before goodwill, increased by 22% to £12.3m.

Total sales were up 22% at £225.1m, while sales on continuing operations grew by 38% to £215m.

At the end of the half year, the company's order book stood at £640m.

This figure excludes the South West Regional Prime contract, for which Babcock is the preferred bidder, and the Single Living Accommodation Modernisation contract. Including these, the order book would be worth over £1.2bn.