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Babcock - Sharp rise in order book

September 2008

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:
  • 590p
Defence support services firm Babcock continues to go from strength to strength with its interim management statement on 10 July noting that its order book has increased again by £0.8bn to £3.8bn. while trading conditions across the group remain healthy. Since we made Babcock a main write-up two months ago it has announced two more contract wins with by far the most significant (and one we had previously mooted) being an initial five-year contract to supply the Canadian Government with four Victorian class submarines. While the initial deal is worth C$250m (£125m) there are options to extend it by a further ten years, increasing the value to a whopping C$1.5bn (£750m). Although the shares are treading water we expect them to b ...

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