Babcock sees a bright future

Babcock International Group today (Thursday) said it was confident about the future after it raised first-half pre-tax profit by 77% to £16.6m from £9.4m a year earlier.

Sales from existing operations for the half-year were £243m, up from £215m.

In a review of the period, the group said defence services had a very satisfactory first-half with sales up by 30% and operating profit,  pre-goodwill, increasing by 70% compared with the same period last year. 

Engineering and plant services turned in sales of £52.7m for the first half, up 13% after continued progress in Africa. 

Operating profits before goodwill for the division rose by more than 25%.     

Chief executive Peter Rogers said: "Overall, we view the future of the enlarged Babcock with confidence."