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Babcock expecting another "excellent" year

Babcock International is expecting another year of “excellent progress”, the firm revealed today.

The engineering support services company said the period since 31 March 2009 at the start of the financial year has started well and is so far trading in line with company expectations.

Babcock said its order book has increased to around £6 billion on the back of new contract wins.

The firm said: “The major markets in which we operate remain resilient and we remain confident they will continue to provide significant opportunities for growth.

“The strength of our order book combined with a robust bid pipeline provides us with excellent long-term visibility and security of future revenues.”

Babcock said its cash generation has remained strong during the first quarter and net debt continued to reduce.