19th Oct 2007 09:00
Babcock International Group PLC19 October 2007 19 October 2007 Babcock International Group PLC Change in Segment Reporting As previously announced, Babcock International Group will be amending the formatof its segment reporting. Following the acquisition of Devonport Management Ltd (DML) in June 2007 thedivisional structure of the Group will be realigned to reflect more clearly theactivities and work streams of the business. The newly formed Marine division will include Babcock Engineering Services (BES)at Rosyth, Babcock Naval Services (BNS) at HMNB Clyde (Faslane) and DevonportManagement Ltd (DML), Plymouth. The Marine division will be the sole supportpartner to the Royal Navy's submarine fleet and will be a major partner in theprovision of support to the current surface fleet and to the CVF project. Thedivision will also include the Group's civil and military nuclear businessesunder BNS Nuclear. The Defence Services division will consist of Babcock Defence Services (BDS) andBabcock Infrastructure Services (BIS). Defence Services will continue to focusprimarily on the provision of facilities management, equipment support andtraining expertise to the British Armed Forces. BNS at HMNB Clyde previouslyformed part of the Defence Services division. The Technical Services division, which included the results of BES at Rosyth andAlstec's nuclear businesses, will be discontinued as a reporting segment. TheRail, Engineering and Plant Services and Networks divisions remain unchanged. The new segment reporting will be adopted with our interim results to bepublished on 13 November 2007. In preparation for this we have restated thehalf year results to 30 September 2006 and the full year results to 31 March2007. These are set out below. For half year ended 30 September 2006 Operating profit before acquired intangible Acquired amortisation and intangible exceptional items amortisation and Revenue exceptional items Operating profiy £m £m £m £m RESTATED RESTATED RESTATED RESTATEDMarine 131.0 11.1 (0.8) 10.3Defence Services 118.4 9.8 (0.7) 9.1Rail 115.6 4.4 (1.8) 2.6Engineering & Plant Services 80.2 6.7 - 6.7Networks 42.4 4.8 (0.3) 4.5Unallocated (3.3) (0.6) (3.9)Total Continuing Operations 487.6 33.5 (4.2) 29.3 For full year ended 31 March 2007 Operating profit before acquired intangible Acquired amortisation and intangible exceptional items amortisation and Revenue exceptional items Operating profit £m £m £m £m RESTATED RESTATED RESTATED RESTATEDMarine 271.7 25.6 (1.5) 24.1Defence Services 247.3 20.4 0.6 21.0Rail 228.8 9.3 (4.1) 5.2Engineering & Plant Services 165.6 13.3 - 13.3Networks 74.9 6.8 (0.3) 6.5Unallocated - (7.1) (0.2) (7.3)Total Continuing Operations 988.3 68.3 (5.5) 62.8 Note: There has been no change to the share of joint venture results. Ends Contact: Babcock International Group PLCBill Tame, Finance Director Tel: 020 7291 5000Financial DynamicsAndrew Lorenz Tel : 020 7269 7221Susanne Yule This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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