Babcock boosted by record orders

Firm describes growth from Marine and Technology and Support Services as "compelling"

Engineering firm Babcock International has reported a 32% rise in underlying pre-tax profit to £417.7 million for the year ended 31 March, as its order book reached a record £20 billion.

The company posted a 27% increase in underlying revenue to £4.5 billion and a 37% rise in underlying operating profit to £519 million.

During the year the company secured a number of major contracts, including contracts for Magnox civil nuclear decommissioning, London Fire Brigade vehicle support, Defence Support Group military vehicle support and the Maritime Support Delivery Framework.

Chief executive Peter Rogers said: “Babcock performed strongly last year, both organically and through acquisitions. We achieved double digit organic growth in revenue and operating profit driven by major contract wins and by expanding the size and scope of existing contracts. Growth from Marine and Technology and Support Services has been particularly compelling.

“Our recent acquisitions have continued to perform in line with our expectations and have created an excellent platform for future growth,” he added.

Babcock International employs 26,000 people across a range of sectors including defence, energy, and transport.