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Trading statements

Babcock revenue visibility improves

20 September 2017 07:32

Babcock said trading was in with its expectations and the outlook for the year was unchanged.

An update said that revenue visibility had continued to improve, with 89% of revenue now in place for 2017-18 and around 57% for 2018-19.

Babcock said the order book and bid pipeline of opportunities remained stable, and continued to provide confidence in its ability to grow revenue as expected over the medium term.

Looking ahead it said: 'The group continues to maintain a healthy financial position, with growth in line with its expectations for 2017-18.

'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 introduction of accounting standard IFRS15 in 2018/19 is not expected to have a significant impact on earnings, given the nature of the contracts the group delivers.'

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Related Company: BAB

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