Babcock International Group PLC Interim Management Statement (9555G)
2012年7月5日 - 3:00PM
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RNS Number : 9555G
Babcock International Group PLC
05 July 2012
5 July 2012
Babcock International Group PLC
Interim Management Statement
Prior to today's Annual General Meeting, Babcock International
Group PLC (Babcock or the Group), the UK's leading engineering
support services company, is issuing the following Interim
Management Statement for the period from 1 April 2012.
The 2012/13 financial year has started well. Trading across the
Group is positive and, as set out in the preliminary results
announcement on 15 May 2012, we remain confident of meeting our
expectations for this financial year and delivering strong progress
on last year.
Our markets remain buoyant. We continue to see significant
opportunities being created for the Group in this economic climate,
as customers seek to outsource more of their technical, engineering
or training support requirements to drive increased efficiency and
availability of their assets.
Reflecting the positive market environment, the strength of our
market positions and our distinctive business model, bidding
activity across the Group remains strong and as a result the bid
pipeline has increased to GBP13 billion from GBP9.5 billion at the
time of our preliminary results in May. This is driven mainly by
new bidding activities within the Support Services division, in
particular, the competition for the decommissioning of the Magnox
and Research nuclear reactors. This contract is expected to be
awarded in mid 2014.
Since the results, the order book has remained stable at around
GBP13 billion. This provides us with excellent visibility of future
revenues, with around 80% of the Group's anticipated revenue for
the 2012/13 financial year currently contracted.
In addition to formal bids currently being progressed, we
continue to track and discuss with customers a number of
significant longer term opportunities which we expect to come to
market over the next 12 - 24 months. The Marine and Technology
division continues to discuss a number of naval support
opportunities overseas in addition to progressing the Maritime
Support Delivery Framework with the Ministry of Defence (MoD). This
will provide a framework to develop our role in both HMNB Devonport
and Clyde as well as a mechanism to deliver scope expansion under
the Terms of Business Agreement. The Defence and Security division
is well placed to benefit from opportunities in military vehicle,
aircraft and equipment support and military training as they come
to market.
The Group's financial position remains robust. Cash generation
across the Group has remained strong through the period and as a
result we have continued to pay down debt.
Outlook
Babcock is well positioned to help our customers formulate cost
efficient support solutions and we believe the current economic
climate will continue to create significant medium and long-term
growth opportunities both in the UK and overseas.
Strengthened by major contract wins in 2011/12, the Group has
excellent visibility of future revenue streams through its solid
order book and growing bid pipeline. This reinforces the Board's
confidence of meeting its expectations for this financial year and
delivering strong progress on last year.
- Ends -
Enquiries
Babcock International Group PLC 020 7355 5300
Bill Tame - Finance Director
Terri Wright - Head of Investor Relations
FTI Consulting 020 7269 7291
Andrew Lorenz
Nick Hasell
A conference call for analysts and investors will be held at
8.00 am on 5 July 2012. Details are set out below. An audio webcast
of the call will be available to play back on
HUwww.babcockinternational.com/investorsU
Participant Access Details
Dial-in number 020 3140 0668
Participant PIN code 757318#
Playback Details
Playback Number 020 3140 0698
Playback Pin Code 385595#
This information is provided by RNS
The company news service from the London Stock Exchange
END
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