Babcock International (GB:BAB) has released an update.
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Babcock International Group PLC has reported a robust financial performance for FY24, with strong organic revenue growth of 11% to £4.4 billion and an underlying operating profit increase of 34% to £238 million, despite a £90 million loss from the Type 31 contract. The company’s balance sheet has strengthened, evidenced by a reduction in net debt by £129 million and an underlying free cash flow significantly exceeding expectations at £160 million. Babcock reiterates its guidance for further progress in FY25 and maintains its medium-term outlook.
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