Babcock profits up

Babcock International's underlying pre-tax profits rose by 7% to £228.4m in the six months to the end of September.

Revenues rose by 6% to £2,492.8m and operating profits were up 7% at £269.7m.

On a statutory basis, revenues were up 7% at £2,173.1m, operating profits rose by 5% to £165.6m and pre-tax profits increased by 12% to £163.5m.

Chief executive Archie Bethel said: "Babcock continues to perform; delivering growth in revenue, profit and earnings, and maintaining healthy levels of cash generation and conversion. The long-term visibility provided by our £20 billion order book and substantial pipeline of opportunities underpins our future growth.

"Our UK markets remain positive, with the Group well positioned for the significant future outsourcing opportunities expected from both our defence and civil customers, and we see growing international demand for our specialist and complex engineering support services. Despite slightly slower organic growth, the Board expects the full-year results to be in line with its expectations.

"We therefore remain confident of making good progress both this year and beyond."

At 8:03am: (LON:BAB) Babcock International Group PLC share price was +6.25p at 997.25p