Babcock Predicts 17% Profit Surge in Fiscal 2025
(Reuters) -British engineering company Babcock said on Wednesday it expects fiscal 2025 operating profit to jump 17% to 363 million pounds ($483.2 million), comfortably beating market estimates, driven by strong performance across its divisions.
The group, which maintains Britain's naval fleet, builds new warships and makes weapon-handling systems, has struck a confident tone in recent months as geopolitical uncertainty drives demand for its defence equipment and services.
Babcock reported a contracted backlog of 10.1 billion pounds as of March 31, up from 9.5 billion pounds on September 30, 2024.
The company's projected operating profit for fiscal 2025 beats the market consensus of 346.8 million pounds, based on a poll of 11 analysts by Vuma Financial.
($1 = 0.7514 pounds)
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Sherry Jacob-Phillips)
