(photo: )
08.04.2019, 13:13

Babcock Shares Rally

Company News, EMEA, Defence & Security, Service Provider News

Shares in troubled engineering support services group Babcock International have rallied following the announcement last week that Rolls Royce and ContourGlobal non-executive director Ruth Cairnie will replace retiring Chairman, Mike Turner.


Shares in the group - a key supplier of outsourcing and engineering services to public sector clients, including the UK Ministry of Defence (MoD), fell more than seven per cent in February on the back of lower-than expected projections and the announcement that it has set aside £10 million a year for the restructuring of its European aerial emergency services business in preparation for a no-deal Brexit.

Babcock recently announced 150 job losses, on top of 150 redundancies announced last year, and 250 in November 2017 at its shipyard in Rosyth, near Dunfermline, Scotland which is delivering the next generation of Queen Elizabeth Class (QEC) aircraft carriers for the British government.


The company is a member of the Aircraft Carrier Alliance consortium which includes prime defence contractors, BAE Systems and Thales.




Article rating:

vote data

Leave a reply

Pictured: Compass Group PLC CEO, Dominic Blakemore. (photo: Compass Group UK & Ireland)
News Editor  - 11.01.2021

Putting the Planet First

Compass Group is among 25 companies to have confirmed support for the Terra Carta pledge launched by HRH The Prince of Wales’ Sustainable Markets Initiative.

 (photo: Compass Group UK & Ireland)
News Editor  - 18.12.2020

Providing 20,000 Meals to Those in Need

The Wimbledon Foundation has extended its support for organisations addressing food poverty at Christmas and beyond as part of its response to COVID-19.

 (photo: Meritt Thomas)
Simon Green  - 06.01.2021

Smoke Bombing or Air Sanitisation Units?

Simon Green, Head of Value Engineering, Sourcing & Quality for the Airdri Group, explains why air sanitisation units are preferable to the practice of smoke bombing in workplaces post-Covid-19.

 (photo: Brigton Hollingdean MRF/Veolia Environnemental Sevices)
Staff Reporter  - 17.08.2020

Backing the UK's Green Economic Recovery

Veolia’s latest Sustainability strategy, Impact 2023, aims to support innovation and new infrastructure by adding to over £2 billion the company has already invested in the UK's circular economy.

 (photo: )
FM Editor  - 18.12.2019

The Drains of Christmas Future

UK wastewater and drainage solutions provider Lanes Group has reimagined "A Christmas Carol" into a story about the importance of clean drains.

 (photo: )
FM Editor  - 18.12.2019

University of Manchester Clean Room Contract

SPIE UK has won an 18-month design, supply, install and commission contract for a clean room at The University of Manchester, as part of a new build being constructed by Balfour Beatty.