Edition:
United Kingdom

Babcock International Group PLC (BAB.L)

BAB.L on London Stock Exchange

521.60GBp
22 Mar 2019
Change (% chg)

-3.80 (-0.72%)
Prev Close
525.40
Open
530.00
Day's High
532.00
Day's Low
520.20
Volume
137,135
Avg. Vol
1,831,952
52-wk High
868.00
52-wk Low
471.90

Latest Key Developments (Source: Significant Developments)

UK's Unite Says Babcock Announced Around 150 Redundancies At Its Rosyth Shipyard
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - UK Union Unite::UK'S UNITE SAYS BABCOCK ANNOUNCED AROUND 150 REDUNDANCIES AT ITS ROSYTH SHIPYARD.  Full Article

Babcock Says Chairman Mike Turner To Step Down From Role At AGM Close In July
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - Babcock International Group PLC ::BABCOCK INTNL GROUP - DIRECTORATE CHANGE.BABCOCK - CHAIRMAN MIKE TURNER CBE INTENDS TO STEP DOWN AS CHAIRMAN AT CLOSE OF COMPANY'S ANNUAL GENERAL MEETING IN JULY THIS YEAR.BABCOCK - SENIOR INDEPENDENT DIRECTOR, PROFESSOR SIR DAVID OMAND GCB, WILL LEAD BOARD'S NOMINATIONS COMMITTEE IN AN ORDERLY SUCCESSION PROCESS.BABCOCK - MIKE TURNER HAS NOT, WILL NOT RECEIVE ANY LOSS OF OFFICE PAYMENTS, NOR PAID ANY FURTHER REMUNERATION FOR HIS SERVICE AS A DIRECTOR OF CO.  Full Article

Babcock Says JV Wins New Australian Defence Contract Worth Around AU$1.5 Bln
Monday, 3 Dec 2018 

Dec 3 (Reuters) - Babcock International Group PLC ::JOINT VENTURE WINS NEW AUSTRALIAN DEFENCE CONTRACT.HAS BEEN AWARDED A NEW CONTRACT BY AUSTRALIAN DEFENCE FORCE, WORTH AROUND AU$1.5 BILLION FOR UP TO 15 YEARS.CONTRACT IS FOR AN INITIAL FIVE YEARS (BABCOCK SHARE FOR THIS INITIAL PERIOD AU$250 MILLION) WITH EXPECTATION OF 2 FURTHER FIVE YEAR EXTENSIONS.  Full Article

Babcock Wins 100 Mln Stg Aerial Firefighting Contract In Canada
Friday, 30 Nov 2018 

Nov 30 (Reuters) - Babcock International Group PLC ::BABCOCK INTNL GROUP - CONTRACT WIN.BABCOCK INTERNATIONAL GROUP PLC - WILDFIRE SUPPRESSION SERVICES CONTRACT, AWARDED BY GOVERNMENT OF MANITOBA, IS WORTH AROUND £100 MILLION (CAD$170 MILLION).BABCOCK INTERNATIONAL GROUP PLC - CONTRACT WILL BEGIN IN APRIL 2019.  Full Article

UK defence firm Babcock takes 120 mln pound exceptional charge
Wednesday, 21 Nov 2018 

Nov 21 (Reuters) - Babcock International Group PLC ::H1 REVENUE 2.255 BILLION STG.UNDERLYING RESULTS IN LINE, TAKING ACTIONS TO FURTHER STRENGTHEN BABCOCK.EXCEPTIONAL CHARGES OF £120 MILLION (£101 MILLION NET OF TAX).REVENUE £2,254.8M.OPERATING PROFIT £49.3M.OUTLOOK FOR THIS YEAR UNCHANGED.PROFIT BEFORE TAX £65.1M.LOW SINGLE DIGIT UNDERLYING ORGANIC REVENUE GROWTH AT CONSTANT EXCHANGE RATES WITH IMPROVED MARGINS TO LAST YEAR.NET DEBT/EBITDA 1.6X.COMBINED ORDER BOOK AND BID PIPELINE £32BN.GROUP MARGIN IMPROVING TO 10.9%, PARTLY AS LOW MARGIN BUSINESSES EXITED.STEP DOWN IN REVENUE FOR MAGNOX IN 2019/20 IS NOW EXPECTED TO BE AROUND £250 MILLION.COMPARED TO PREVIOUS EXPECTATIONS OF AROUND £100 MILLION.UNDERLYING REVENUE DOWN 2.3%, IMPACTED BY EXITS AND DISPOSALS.ASSOCIATED STEP DOWN IN OPERATING PROFIT IS EXPECTED TO BE AROUND £20 MILLION.ORGANIC REVENUE GROWTH AT CONSTANT EXCHANGE RATES -1.1%.OUR MEDIUM TERM VIEW REMAINS THAT THERE ARE SIGNIFICANT OPPORTUNITIES FOR US TO SUPPORT LONG TERM DECOMMISSIONING OF MAGNOX SITES.UNDERLYING OPERATING CASH FLOW OF £264 MILLION.£32 BILLION COMBINED ORDER BOOK AND BID PIPELINE, 92% OF UNDERLYING REVENUE ALREADY SECURED FOR 2018/19.REVENUE GROWTH WILL RESUME IN SECOND HALF AND FOR YEAR AS A WHOLE.NET DEBT £1,132 MILLION, DOWN £159 MILLION YEAR ON YEAR; REPRESENTS 1.6X EBITDA AND ON TRACK TO REACH 1.4X BY MARCH 2019.EXCEPTIONAL CHARGES OF £120 MILLION (£101 MILLION NET OF TAX), RELATED TO RESHAPING OUR OIL AND GAS BUSINESS,.  Full Article

The Capital Group Companies Cuts Stake To 4.84 Pct From 9.96 Pct In Babcock
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - Babcock International Group PLC ::THE CAPITAL GROUP COMPANIES CUTS STAKE TO 4.84 PERCENT FROM 9.96 PERCENT IN BABCOCK INTERNATIONAL GROUP PLC - FILING.  Full Article

Babcock To Exit Operations At Appledore Facility
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - Babcock International Group PLC ::BABCOCK INTERNATIONAL - TO EXIT OPERATIONS AT ITS APPLEDORE FACILITY IN DEVON, ENDING ITS SITE LEASE IN MARCH 2019.BABCOCK INTERNATIONAL - WILL OFFER RELOCATION OPPORTUNITIES FOR ALL 199 APPLEDORE EMPLOYEES AT OTHER BABCOCK FACILITIES.BABCOCK INTERNATIONAL GROUP PLC - WILL NOW ENGAGE IN A CONSULTATION PERIOD.BABCOCK INTERNATIONAL - IN 2017/18 APPLEDORE GENERATED AROUND £24 MILLION OF GROUP'S TOTAL UNDERLYING REVENUE OF £5.4 BILLION.  Full Article

Babcock Says No Change To Fy Underlying Revenue, Earnings Expectations
Monday, 30 Jul 2018 

July 30 (Reuters) - Babcock International Group PLC ::BABCOCK - THERE HAS BEEN NO CHANGE TO CO'S EXPECTATIONS FOR UNDERLYING REVENUE AND UNDERLYING EARNINGS AS DETAILED IN RECENT TRADING STATEMENT.BABCOCK INTERNATIONAL GROUP - IMPACT OF SLOWER THAN ANTICIPATED SPARES PROCUREMENT ACTIVITY RELATING TO DSG WAS INCLUDED IN GUIDANCE.BABCOCK INTERNATIONAL GROUP PLC - THERE HAS BEEN NO CHANGE TO BID PIPELINE.BABCOCK INTERNATIONAL GROUP PLC - MOD HAS DECIDED TO FOCUS ON DEEPENING TRANSFORMATION AND RELATIONSHIP WITH BABCOCK ON CORE CONTRACT.  Full Article

Babcock Says Awarded Canadian Submarine Contract Extension
Thursday, 31 May 2018 

May 31 (Reuters) - Babcock International Group PLC ::CONTRACT EXTENSION.SECURED THREE-YEAR EXTENSION, WORTH AROUND £225 MILLION, TO ITS EXISTING CONTRACT TO PROVIDE IN SERVICE SUPPORT CONTRACT TO CANADA'S FLEET OF FOUR VICTORIA CLASS SUBMARINES.CONTRACT WHICH HAS BEEN EXTENDED TO 2021 IS LARGEST NAVAL IN-SERVICE SUPPORT CONTRACT IN CANADA.  Full Article

Babcock Wins Italian Firefighting Contract
Thursday, 18 Jan 2018 

Jan 18 (Reuters) - Babcock International Group Plc ::BABCOCK AWARDED ITALIAN FIREFIGHTING CONTRACT.‍BABCOCK AWARDED ITALIAN FIREFIGHTING CONTRACT​.‍DUE TO START IN FEB, REBID WORTH TOTAL OF AROUND £160 MILLION FOR FIRST 4 YEARS; OPTION FOR 4-YEAR EXTENSION THAT COULD RAISE VALUE TO £320 MILLION​.  Full Article

PRESS DIGEST- British Business - Feb 27

Feb 27 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.