30th Jul 2015 07:05
LONDON (Alliance News) - FTSE 100-listed support services company Babcock International Group PLC on Thursday said it is trading in line with its first-half and full-year expectations so far in its 2015 financial year.
Babcock said it has seen strong demand for its services in the first half, both in its existing contract book and in new business wins. Since its full-year results were published in May, Babcock's order book has remained stable at GBP20 billion and continues to provide strong visibility, with 84% of its revenue for the 2016 financial year secured and 60% of its 2017 revenue in place.
The group's bid pipeline also remains robust at around GBP10.5 billion and it said its tracking pipeline offers good opportunities for growth.
But Babcock said it still expects a fall in first-half revenue in its defence and security business and said it expects oil and gas-related revenue in its MCS business to drop, though emergency services revenue should offset this.
Babcock shares were down 2.1% to 1,017.00 pence in early trade, the worst performer in the FTSE 100 just after the open.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Babcock