26 jul 2024

Babcock full year results announced for year ended 31 March 2024

Babcock’s full year results for the year ended 31 March 2024 have been released today.

David Lockwood, Chief Executive Officer, said:

“We have made good strategic progress, delivering another year of strong growth with cash flow ahead of expectations. Babcock is well positioned to benefit from the sustained uplift in global defence budgets, driven by the need to recapitalise, re-equip and modernise militaries, resulting in an increase in our opportunity set.

“We combine strong engineering know-how, high customer intimacy and extensive operational asset knowledge together with highly collaborative relationships and product development capability. This differentiated proposition is increasingly attractive to our customers. We look to the future with confidence as we continue to progress towards our medium-term targets.”

You can view the full statement here and watch a video from our Chief Executive below.