Babcock sees stable trading

ENGINEERING support services group Babcock yesterday said it was trading in line with expectations, helped by cost-cutting and clients outsourcing more work.

Babcock said that its order book was stable at around £13bn.

Meanwhile 80 per cent of revenue expected in 2012/2013 is already contracted, it said.

It added that it was pursuing new contracts in marine technology with the Ministry of Defence. And it said that the increasing number of companies outsourcing engineering work was boosting its revenues.

The firm, which specialises in the defence industry, said it had “excellent visibility of future revenues.”