logo
Share SHARE
FONT-SIZE Plus   Neg

Babcock Int'l Says Trading In Line With View

Babcock International Group Plc. (BAB.L), in its trading update for the period from 1 April 2017, said that the financial year has started well, with the Group trading in line with expectations and the outlook for the year unchanged. Since the full year results announcement on 24 May 2017, visibility has continued to improve, with around 82% of revenue now in place for 2017/18 and 55% for 2018/19.

The order book and bid pipeline of opportunities have remained stable at around 19.0 billion pounds and 10.5 billion pounds respectively following contract wins, and the tracking pipeline remains buoyant, providing confidence in our ability to grow in line with our expectations this year and over the medium term.
The Group has continued to make progress over the last seven weeks, with work proceeding as expected on our long-term contracts. Awards since the start of the financial year include a new contract, worth up to 500 million pounds, to operate a fleet of specialist fixed-wing aircraft for the Norwegian Health Service from summer 2019.

The Group said it continues to maintain a healthy financial position. As previously indicated, it expects to further reduce debt during the second half of 2017/18 and achieve a net debt to EBITDA ratio of around 1.6 times by the end of the year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Struggling fast-food giant McDonald's is trying to woo back customers to its stores with a new concept called "Experience of the Future." According to reports, as part of its "Experience of the Future" initiative McDonald's is planning to upgrade and renovate its restaurants that will provide modern... Facebook might be launching smart speakers with a touch panel next year. The touch screen could be used for 15-inch display of imageries. According to reports Facebook has already begun the pilot production in China. The new device is expected to be launched in the first quarter of 2018. Britain is the latest nation to announce that it will end the sale of new petrol and diesel cars in an effort to reduce air pollution. Britain said it will ban the sale of new petrol and diesel cars from 2040. In early July, France said it plans to end sales of all petrol and diesel vehicles in the country by 2040 as part of a plan to meet its targets under the Paris climate accord.
comments powered by Disqus
Follow RTT