Babcock lifted by bid pipeline

City A.M. Reporter
SHARES in engineering support services firm Babcock jumped 6.8 per cent yesterday after it posted a 16 per cent jump in profits.

Pre-tax profits at the firm rose to £224.6m on revenues six per cent higher at £3.2bn in the year to the end of March.

The firm also highlighted its strong £15.5bn bid pipeline and £12bn order book, and is hoping to benefit from future outsourcing deals with the Ministry of Defence.