9th Apr 2021 07:40
(Alliance News) - Babcock International Group PLC is preparing to write down the value of its assets and may update the market in the coming days, the Financial Times reported late on Thursday, citing people familiar with the situation.
The cost of the write down is still subject to change, but analysts estimate it could be as high as GBP700 million.
https://www.ft.com/content/9adabd8c-4f5f-4edf-82d5-f931cf6867f6
The London-based defence contractor warned in January that there may be "negative impacts" from a review of its balance sheet.
Shares fell 1.2% to 237.00 pence in London on Thursday.
By Ivan Edwards; [email protected]
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