Engineer鈥檚 results boosted by big nuclear sector wins
Engineering giant Babcock has reported a 29% jump in pre-tax profit.
In its results for the six months to the end of September 2014, the group reported pre-tax profit of 拢137m, up from 拢106m over the same period last year.
The group also reported a rise in revenue to 拢1.9bn, up from 拢1.6bn.
The rise in revenue was helped by growth in its support services division, which does much of the firm鈥檚 work in the construction market, that reported a 5% rise in revenue to 拢470m, up from 拢448m.
It also reported a 4% rise in operating profit to 拢33m from 拢32m.
It said its nuclear division Cavendish Nuclear, which sits within its support services arm, had performed particularly well with a 26% increase in revenue.
Big wins for Cavendish over the six month period included winning a contract to run the 拢7bn Magnox (pictured) decommissioning programme alongside bid partner Fluor.
Babcock also revealed it had submitted a bid to do the 鈥渂alance of the nuclear island鈥� work on EDF鈥檚 拢16bn Hinkley Point C nuclear power plant project and it was expecting a result 鈥渟oon鈥�.
No comments yet