Member Article

Babcock boast £12.5bn order book

International engineering firm Babcock have posted revenues of £143.1m, and boast an order books worth £12.5bn.

The firm, who have sites across the UK, said the outlook for defence outsourcing in Canada, Australia, Brazil and the Middle East remains positive.

Babcock is set to support Hitachi in its delivery of the Horizon Nuclear Power plan, as the two companies have signed a memorandum of understanding.

The firm also said that its bid pipeline had increased to over £13bn during the first half of the year.Peter Rogers, Chief Executive commented “Babcock’s strong first half performance reflects our leadership in UK engineering support services, the continuing growth in our major markets and our increasing international presence.

“We achieved double-digit growth in underlying profit and earnings and we further strengthened our balance sheet by sustaining our track record of excellent cash conversion. As a result, we have once again been able to increase returns to our shareholders. The strength of our order book and bid pipeline underpin our confidence in the future.”

This was posted in Bdaily's Members' News section by Tom Keighley .