Babcock International FY22 Revenue Up 5% Organically

Babcock International (BAB.L), on Thursday, reported FY22 revenue of £4.10 billion, up 5% organically, compared to £3.97 billion in the previous year, driven by recovery from COVID-19 impacts in the prior year across the Group and growth in Marine and Nuclear.

Operating profit for the year 2022 was £226.8 million compared to a loss of £1.74 billion incurred a year ago. Underlying operating profit was £237.7 million compared to a loss of £27.9 million in 2021.

Basic earnings totaled 32.5p per share versus a loss of 357.0p per share incurred in the year 2021. Underlying basic earnings per share was 30.7p versus a loss of 24.6p last year.

David Lockwood, Chief Executive Officer, said, "The first year of our turnaround has seen us deliver as we said we would, despite geopolitical volatility and a challenging economic environment. We have successfully stabilised the business; strengthening our balance sheet and driving cultural change across the Group."

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