Babcock confident on targets

City A.M. Reporter
Defence services group Babcock said this morning trading in the first half of the year was positive, and it was on track to meet expectations for the full year.

“Our businesses continue to experience buoyant market conditions, in both civil and military markets, as current and potential customers continue to seek increased efficiency and improved availability of assets,” it said in a statement.

Its order book remained stable at around £13bn over the first half, with a “regular flow of smaller contract wins”.

The company, which sold its US defence services unit in May, said it had several large opportunities under bid, the majority of which it expects to be awarded over the next 18 months.