Babcock Reports Large Annual Profit Increase

Babcock International, the biggest supplier of services to the British Royal Navy, has reported an increase of 53 percent in annual profit.

The company recorded an adjusted pre-tax profit of £95m, for the year ended 31 March.

Last year, Babcock acquired Devonport Management Ltd, International Nuclear Solutions and Strachan & Henshaw.

Babcock says it will not make any more large acquisitions in the near term.

The company says all its divisions saw strong growth except the rail unit, which was static.

By staff writer