US EditionBabcock Shares Top FTSE 100 as UK Defence Contractor Raises Profit Targets
- On Wednesday, Babcock International, a major UK defence firm listed in London, increased its earnings expectations and declared a higher dividend following strong sales and new contracts.
- This follows the UK government's strategic defence review emphasizing nuclear capabilities, including plans to increase its number of nuclear-powered attack submarines from the current seven to up to 12 as part of the Aukus agreement.
- Babcock reported a 51% rise in operating profit to £364 million and an 11% revenue increase to £4.8 billion, driven by growth in nuclear and marine sectors.
- Chief executive David Lockwood said, "This is a new era for defence," highlighting global tensions and expanding contracts like a £750 million deal with the UK Submarine Delivery Agency.
- Babcock expects to meet a 9% operating margin target earlier than planned and announced a £200 million share buyback, reflecting optimism amid rising global defence spending.
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The IndependentReposted by 
perspectivemedia.com
perspectivemedia.comBabcock hails ‘new era of defence’ as global threats prompt greater spending
The London-listed company reported higher profits and raised its financial outlook.
·London, United Kingdom
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Leaning Left3Leaning Right1Center3Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
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