27th Sep 2013 08:45
LONDON (Alliance News) - Babcock International Group PLC Friday said trading in its markets for the half-year has remained positive and that it is confident of further strong progress, with results for the full-year expected to be in line with its expectations.
The engineering support-services company said there had been no been material change in its financial position since July 11, when it said it had "around 80% of the Group's anticipated revenue for the 2013/14 financial year contracted".
Babcock, which acquired Brazilian facilities management company Conbras in a GBP22 million deal announced on July 23, said in a July statement that the general economic climate and financial constraints being experienced by many of our customers continue to ensure positive market conditions for its businesses.
Babcock's acquisition of Conbras was part of its identification of Brazil as a "key growth market" and at the time of the acquisition Babcock expected the company's strong financial performance over the past few years to continue in 2013 with further growth anticipated.
Babcock will release its half-year results on Tuesday, November 12.
Babcock shares were Friday quoted at 1,215.00 pence, up 22.00 pence, or 1.8%.
By Samuel Agini; [email protected]; @samuelagini
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