Shipbuilding and nuclear services boost Babcock profit by 19 per cent

For the six months to September 30, Babcock posted underlying operating profit of £201.1 million ($263 million), up on the £168.8 million it made in the same period last year, putting it on track to meet a consensus forecast for annual profit growth of 11 per cent.

In June, Babcock upgraded its medium-term operating margin guidance, forecasting it would capture more business as Britain and other European nations lift their defence spending.