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BAB - Babcock International News Story

217.8p -4.9  -2.2%

Last Trade - 18/09/20

Sector
Industrials
Size
Mid Cap
Market Cap £1.13bn
Enterprise Value £2.91bn
Revenue £4.45bn
Position in Universe 359th / 1806

BRIEF-Babcock International Q1 Underlying Operating Profit Down 40%

Tue 4th August, 2020 7:51am
Aug 4 (Reuters) - Babcock International Group PLC  BAB.L :
    * BABCOCK INTERNATIONAL - UNDERLYING REVENUE FOR Q1 WAS 11%
LOWER
THAN LAST YEAR.
    * BABCOCK INTERNATIONAL - CORONAVIRUS (COVID-19) HAD A
SIGNIFICANT
IMPACT ON OUR FINANCIAL RESULTS IN PERIOD
    * BABCOCK INTERNATIONAL QTRLY GROUP REVENUE FROM CORE
BUSINESS
GREW SLIGHTLY
    * BABCOCK INTERNATIONAL - UNDERLYING OPERATING PROFIT FOR Q1
WAS
AROUND 40% LOWER THAN LAST YEAR
    * BABCOCK INTERNATIONAL - AROUND HALF OF THIS PROFIT
REDUCTION WAS
DUE TO LOWER LEVELS OF PRODUCTIVITY IN CORE BUSINESS
    * BABCOCK INTERNATIONAL - ORDER INTAKE IN QUARTER WAS £0.7
BILLION
AND IN JULY WE SECURED AROUND £500 MILLION OF NEW CONTRACTS IN
OUR AVIATION BUSINESS
    * BABCOCK INTERNATIONAL - BOARD HAS MADE AN EXCEPTIONAL
DECISION
NOT TO PAY A FINAL DIVIDEND FOR FINANCIAL YEAR ENDED 31 MARCH
2020
    * BABCOCK INTERNATIONAL - WILL RESUME DIVIDEND PAYMENTS AT
EARLIEST OPPORTUNITY
    * BABCOCK INTERNATIONAL - GROUP'S ORDER BOOK AT 30 JUNE 2020
WAS
£17.3 BILLION AND OUR BID PIPELINE WAS AROUND £17 BILLION.
    * BABCOCK INTERNATIONAL - DAVID LOCKWOOD WILL JOIN BOARD ON
17
AUGUST AS CEO DESIGNATE AND REPLACE ARCHIE BETHEL AS CEO ON 14
SEPTEMBER
    * BABCOCK INTERNATIONAL - FRANCO MARTINELLI INFORMED BOARD
OF HIS
INTENTION TO RETIRE AND A SEARCH WILL BE INITIATED FOR A NEW
GROUP FINANCE DIRECTOR

Source text for Eikon:  ID:nRSD9999Ua 
Further company coverage:  BAB.L 

 ((Reuters.Briefs@thomsonreuters.com;))
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