Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Babcock Says Remains Confident Of Delivering Good Progress This Year

1/31/2012 2:31 AM ET

Babcock International Group Plc (BAB.L) provided interim management statement for the period from October 1, 2011.

The company noted that trading conditions for the Group remain positive and its performance remains consistent with its expectations at the time of half year results announced on November 8, 2011.

Babcock stated that within its markets, customers continue to experience financial and budgetary constraints and this economic environment is creating opportunities for the company's distinctive engineering based, long-term support model. Besides, order book and bid pipeline have remained stable at around 12 billion pounds and 10 billion pounds, respectively, since last reported in November.

Looking forward, the company said it remains confident of delivering good progress this year, in line with its expectations, and looks forward to building on this further in 2012/13.

Click here to receive FREE breaking news email alerts for Babcock International and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Reserve Bank of New Zealand on Thursday raised its Official Cash Rate by 25 basis points, to 3.00 percent from 2.75 percent. The decision was in line with expectations, and it marks the second straight month with a rate hike following 24 straight meetings in which the rate was not changed. New Zealand's economic expansion has considerable momentum, with GDP estimated to have grown by 3.5 percent in the year to March. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter. Stocks moved mostly lower during trading on Wednesday, giving back some ground after trending higher over the past several sessions. Selling pressure was relatively subdued, however, limiting the downside for the markets. The major averages all closed in the red, although the tech-heavy Nasdaq underperformed its counterparts by a wide margin.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.