24th Nov 2015 08:01
LONDON (Alliance News) - Engineering support services company Babcock International Group PLC on Tuesday said its pretax profit and revenue both improved in the first half thanks to a robust performance in its marine and technology division.
The FTSE 100-listed company said its pretax profit for the half to the end of September was GBP146.3 million, up from GBP137.0 million a year earlier. Revenue for the period rose to GBP2.35 billion from GBP2.10 billion.
Revenue growth was robust in its marine and technology business, with good trading in its defence and commercial markets, which offset a tougher environment for its defence and security arm, which was hit by aircraft deliveries phasing effects and by some major contracts coming to a close.
Babcock's order book at the end of the half stood at GBP20.0 billion, up from GBP18.5 billion a year earlier.
The group will pay an interim dividend of 6.05 pence per share, up from 5.50p a year earlier.
"Babcock has maintained its record of strong growth in revenue, profit and earnings with continued robust cash generation and conversion. Our sector leadership positions, excellent track record and operational scale enable us to continue to capitalise on healthy levels of demand in established and new markets, in Britain and overseas," said Chief Executive Peter Rogers.
By Sam Unsted; [email protected]; @SamUAtAlliance
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