Some parts of the market continue to have lingering concerns over Babcock International, but there is not a lot in the latest results to justify this. The company had to guide back expectations for the financial year to the end of March at the end of last year, some analysts having failed to factor in the effect of the high pound against the euro and the South African rand. The figures — revenues were up 8 per cent and operating profits up 4 per cent to £539.7 million — still came in as expected.
This is a company that can expect to increase revenues by 7 per cent in the current year and at about that rate thereafter — and there are not many