22 nov 2022

Driving operational improvement, building resilience, and pursuing growth

We published our half year results today for the 6 months ended 30 September 2022.

David Lockwood, Chief Executive Officer, said:

“Babcock has made strong progress over the past six months. We have enhanced our operational efficiency, cash flow performance and financial resilience, whilst improving delivery for our customers. Whilst there is still more to be done, the significant contracts won this year underpin our confidence in our potential to deliver sustained growth and capture margin upside over the medium term.

“We are operating in a macro economic and geopolitical environment that remains volatile. We are focused on effectively addressing the challenges our business faces, most notably inflationary pressures, whilst also ensuring we maximise the increased opportunity set we are seeing in a market backdrop that is supportive for defence. Babcock now has a solid, well-defined foundation from which to deliver our customers’ key requirements of availability, affordability and capability.” For the full detail of the results, please see our Regulatory News.

The presentation is available to view here Results and Presentations – Babcock International