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Babylon Pump & Power Ltd ( (AU:BPP) ) just unveiled an update.
Babylon Pump & Power Ltd has completed the divestment of its non-core subsidiary Pilbara Trucks Pty Ltd, trading as Ausblast, to Sandgroper Group Holdings for $2.8 million in cash, valuing the business at around 5.6 times annualised EBITDA. The sale, which removes exposure to higher-risk industrial services, will be used to cut net debt by about $1.5 million and redirect remaining funds into working capital and growth in Babylon’s rental and technical water services division, further simplifying operations and sharpening the company’s strategic focus on building a scalable, integrated water management platform.
The most recent analyst rating on (AU:BPP) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Babylon Pump & Power Ltd stock, see the AU:BPP Stock Forecast page.
More about Babylon Pump & Power Ltd
Babylon Pump & Power Ltd (ASX: BPP) is an Australian specialist mining services provider to the resources sector, focusing on high‑pressure pumping, dewatering and project water management, as well as speciality power generation solutions from design and installation through to operations and maintenance. The Perth-based company also offers maintenance and asset management services for high-horsepower mobile equipment, with operations in Western Australia and Queensland and experience in remote and offshore environments.
Average Trading Volume: 33,321
Technical Sentiment Signal: Sell
Current Market Cap: A$17.14M
Find detailed analytics on BPP stock on TipRanks’ Stock Analysis page.