Babcock Intl H1 Profit Down, Revenues Rise; Backs FY23 Outlook - Quick Facts

Aerospace, defense and security company Babcock International Group PLC (BAB.L) Tuesday reported that its first-half profit before tax declined to 51.2 million pounds from last year's 58.8 million pounds.

Earnings per share were 6.7 pence, down from 10.2 pence a year ago.

Underlying basic earnings per share were 15.8 pence, compared to 15.3 pence a year ago.

Revenue increased to 2.144 billion pounds from last year's 2.126 billion pounds in the prior year. Revenue went up 5 percent organically with growth across all divisions.

Looking ahead for fiscal 2023, the company said it is maintaining overall financial expectations.

The company said it has good visibility of the top line with over 90 percent of fiscal 2023 revenue contracted as of September 30.

David Lockwood OBE, Chief Executive, said, "We expect to see continued operational progress from our focus on execution and growth. We are maintaining our overall financial expectations for the current year. The disciplined execution of our strategy, together with a streamlined portfolio, gives the Board confidence in its expectations of delivering increasingly profitable growth and improved cash flow into the medium term."

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