Last checked at 3 Nov 2022 12:13
This replaces RNS No 2379F. Change to the RNS Headline only, which now reads: Restatement of pass-through revenue for HY22. There is no change to the content of the announcement.
Restatement of pass-through revenue and backlog for the half year ended 30 September 2021
3 November 2022
As outlined on 28 July 2022, Babcock International Group PLC's ("Babcock" or "the Group") full year results for the 2022 financial year (FY22) included a restatement of FY21 revenue and contract backlog. This was as a consequence of a re-examination of the presentation of pass-through revenue, as described on page three of the FY22 results statement.
Babcock has today published the restated revenue and associated backlog for the six months ended 30 September 2021 (HY22), ahead of its forthcoming half year results for six months ended 30 September 2022 (HY23).
As a result, in the Land sector revenue and cost of revenue decreases by £96.9 million and contract backlog decreases by £511.6 million in HY22.
There are no other impacts to the HY22 financial information.
The HY23 results will be held on the 22 November 2022.
A presentation of these restatements has been made available on our website at:
www.babcockinternational.com/investors/results-and-presentations
ENDS
For further information:
Andrew Gollan, Director of Investor Relations +44 (0)7936 039004
Kate Hill, Group Director of Communications +44 (0)20 7355 5312
Tulchan Communications
Olivia Peters / Harry Cameron +44 (0)20 7353 4200