Babcock International Group (BAB.L) issued an update on trading for the nine months of the financial year ending 31 March 2026. The Group said its performance through the third quarter has seen a continuation of the strong performance reported at the half year, with the Group delivering good organic revenue growth and underlying operating margin progression.
The Group is confident in delivering on the Board's expectations for fiscal 2026 trading, including meeting the fiscal 2026 margin target of 8%. The Group noted that, should the Indonesian Arrowhead licenses be delivered in year, this should provide upside to current expectations.
Babcock also announced the decision of David Lockwood, Group Chief Executive, to retire by the end of the calendar year. The Board has chosen Harry Holt, the current CEO of Babcock's Nuclear sector, as his successor. Harry will assume the newly created role of Deputy CEO and will join the Board in June.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.