Devonport Dockyard operator Babcok enjoys a boom in the recession
DEVONPORT Dockyard operator Babcock International Group PLC said it is going from strength to strength – because of the recession.
In a pre-close trading statement the firm said it had an order book of about £13billion of work.
And the statement said: “Babcock is well positioned to help our customers formulate cost efficient support solutions and we believe the current economic climate will continue to create significant medium and long-term growth opportunities both in the UK and overseas.”
The engineering support services company, reporting on the half year ended September 30, said trading continued to be positive during the first half of the 2012/13 financial year and bosses remain confident of meeting expectations for this financial year and “delivering strong progress on last year”.
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The statement said: “Our businesses continue to experience buoyant market conditions, in both civil and military markets, as current and potential customers continue to seek increased efficiency and improved availability of assets.
“This is driving further opportunities for the group, where we can benefit from our market leading positions and our track record of delivering efficiencies for our customers.
“During the first half, cash generation across the group has remained strong and as a result we expect to see further reduction in net debt at the half year.
“Across the divisions there has been a regular flow of smaller contract wins.”
Babcock’s half year results will be released on Tuesday, November 6.
Comments
by 9ab3jdr622l
Thursday, October 04 2012, 6:53PM
“WinstonSmith0
Reading your comment reminded me of something else.
If you substitute the word "iffy" for "whiffy" then the relevance will become obvious.
Having looked at the Operational Litter and Dust Management Plan"which amongst other info also has an "odour identification and emission section, including potential release sources.
A trained operative will be out and about with his nose in the air if there is anything whiffy wafting around and once detected will then have to complete a form which will include wind direction,strength(light,steady,strong or gusting) together with a weather report(dry,rain,snow etc.) and what it smells like.
Said operative will not be allowed to work where the waste is sorted for obvious reasons and there will be a replacement if unavailable or off sick (a cold,perhaps?)
Isn't technology wonderful.
There will also be a similar form for any complaints from residents,which if i were living close by,would be banging in on a daily basis.”
by Winstonsmith0
Thursday, October 04 2012, 4:56PM
“@nothalf
Hopefully it does not mean Babcok (yes, deliberate!) is located so close to the incinerator it can sneak in a few iffy bits of nuclear waste from time to time if you pass them a few quid!”
by SeepyBee
Thursday, October 04 2012, 4:55PM
“Looking forward to the pay rise we're sure to get after helping build up the profits :)”
by nothalf
Thursday, October 04 2012, 3:55PM
“'And the statement said: "Babcock is well positioned to help our customers formulate cost efficient support solutions' , what crass bullsh-t is that supposed to mean”
by drt346ys
Thursday, October 04 2012, 3:19PM
“Ahhh, must keep up!”
by Waltersmith
Thursday, October 04 2012, 2:56PM
“@drt346ys
Yes, we tend to get used to it on the site so have given up bothering”
by drt346ys
Thursday, October 04 2012, 2:40PM
“Am I the only one who's seen Babcock spelt incorrectly?”
by Winstonsmith0
Thursday, October 04 2012, 8:18AM
“"Britons never, never never will be slaves"
Yeah, right!”
by Mark2Plym
Thursday, October 04 2012, 12:15AM
“Babcock - shareholders first, country last, will milk the MOD for every penny and then ask for more, fully supported by the Navy Top brass as they get jobs with them when they retire. Check the company profile and see how many are ex-armed forces!”
by b_mused
Wednesday, October 03 2012, 11:05PM
“'drt346ys - Yes its good that Babcock are successful but all the obscene profits from the incinerator will go to MVV of Germany.”