LONDON (Thomson Financial) - British engineering group Babcock International
said the current financial year has begun well and it is trading in line with
expectations.
The group said in a trading statement accompanying Thursday's annual general
meeting that trading conditions across its markets remain healthy.
It said it had concluded a number of significant contracts, as expected when
it announced its full year results on May 13.
The company said the deals were worth more than 800 million pounds in total
and the group order book now stands at 3.8 billion pounds, with a healthy bid
pipeline. It said it believed it was well positioned to take advantage of
significant opportunities for long term growth.
The group added that non-executive chairman Gordon Campbell would stand down
later this year, to be replaced by outgoing BAE Systems chief executive Mike
Turner.
"We remain confident that this will be another year of progress for
Babcock," Campbell said in the statement.
philip.waller@thomsonreuters.com
paw/jlc
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