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Babcock International Group PLC - London-based aerospace, defence and nuclear engineering services company - Says it expects to announce full-year results in-line with the guidance provided in its post close update back in April.
In April, Babcock said its underlying profitability in financial 2023 was in-line with expectations when excluding the potential one-off impact of the Type 31 contact. The contract was awarded by the UK Ministry of Defence to deliver five Inspiration Class frigates for the Royal Navy at an average production cost of GBP250 million per ship. In April, the company said it had recognised over GBP600 million in revenue on the programme but no profit.
The company will release its full-year results on July 20.
Current stock price: 271.00 pence, down 0.5% in London on Tuesday morning
12-month change: down 13%
By Heather Rydings, Alliance News senior economics reporter
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