Firm reports revenue growth and a strong pipeline of work after the first six months of 2013-14
Engineering giant Babcock International has reported a 32% jump in pre-tax profit in the first half of the year.
In a statement to the City, the firm said it had made 拢106m of pre-tax profit in the six months to 30 September, up from 拢80m over the same period last year.
It also said revenue had risen 9% to 拢1.6bn, up from 拢1.5bn over the previous period.
Chief executive Peter Rogers said the firm had 鈥減erformed well鈥� and delivered 鈥渟trong growth鈥�.
He added: 鈥淭he continued buoyancy of our order book and bid pipeline reflects both the strength of our markets, where budget-constrained public and private sector customers demand suppliers that can deliver maintained or enhanced value-for-money solutions, and our clear leadership of the UK engineering support services industry.鈥�
Babcock鈥檚 support services division, which covers its work in the aviation, nuclear power, rail and construction sectors among others, reported an 11% rise in underlying revenue. The division reported revenue of 拢448m, up from 拢403m over the period.
It also reported a 3% increase in underlying operating profit to 拢32m up from 拢31m the previous year.
The firm reported that revenue in its nuclear division, recently rebranded Cavendish Nuclear, had grown 20% in the first half of 2013.
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