UK's Babcock falls most in over 3 weeks on hit to profit
Today 08:28
BUZZ-UK's Babcock falls most in over 3 weeks on hit to profit June 22 (Reuters) - ** Shares of defence and engineering group Babcock International BAB.L down 4.2% at 1,002p, their biggest one-day drop in over three weeks
** Reports FY underlying operating profit down 19% after a £140 mln ($184.91 mln) charge on its Royal Navy Type 31 frigate programme due to higher-than-expected rework costs
** Of nine analysts covering BAB, eight rate it "buy" or better and one "hold"; median PT 1,400p - LSEG-compiled data
** YTD, stock down nearly 20%
($1 = 0.7571 pounds)
(Reporting by Amna Mariyam in Bengaluru)
((amna.mariyam@thomsonreuters.com; 8448625620))