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Babcock International says current trading in line with its expectations, and full year outlook unchanged

Published: 08:46 20 Sep 2017 BST

Engineers
Babcock said: "The order book and bid pipeline of opportunities have remained stable"

Babcock International Group PLC (LON:BAB) said current trading is in line with its expectations, and the engineering services group maintained its full year outlook.

In a trading update, the FTSE 100-listed firm said revenue visibility has also "continued to improve" with  89% of revenue in place for the financial year ending March 2018, and 57% of revenue is in place for the following year.

READ: Babcock International says new financial year has "started well"

The company said: "The order book and bid pipeline of opportunities have remained stable and continue to provide confidence in our ability to grow revenue as expected over the medium term."

However, Babcock added: "Revenue in the Marine sector is expected to be slightly lower than in the previous financial year, due to the stepdown in the volumes from the Queen Elizabeth Class aircraft carrier programme and the phased introduction of contracts, but this is expected to be offset by growth in the other sectors."

The company said it continues to maintain a healthy financial position, adding that growth for the rest of the financial year was in line with its expectations.

In early trading, Babcock shares were 1.6%, or 13p higher at 813p.

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