21 July 2023 - 350p
The defence and engineering group Babcock has announced its results for the year to 31 March and these have revealed revenues of £4.4bn with underlying profit before tax coming out at £220m. Underlying earnings per share were 33.8p although there was no dividend. Net debt fell sharply during the year to £346m from £556m thanks to better than expected cash generation. These were very solid results and show that the recovery at the group is continuing. With defence making up two thirds of the group's operations the increased tensions in the world with . . .
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