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Babcock International - Bid pipeline remains promising

January 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BAB
  • Price:
  • 1257p
After trading sideways for seven months, shares in defence outsourcing group Babcock have finally edged to a new high of 1333p, helped by solid interims, which showed revenues, pretax profit and eps rising by 9%, 17% and 12% respectively. The order book remained robust at £12bn (H1 2013: £12.5bn), covering almost 90% FY forecast 2014 sales and the bid pipeline was a stable £15.5bn. The best performer was Marine & Technology (47% H1 operating profit), which encompasses warship refits, design of submarine weapons handling and launch systems as well as supplying equipment and spare parts to the MoD. Here, profits grew 12%, thanks to increased work on submarine programs and the mammoth construction of the two new QE class aircr ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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