|Bid||5.20 x 168900|
|Ask||624.00 x 76000|
|Day's Range||559.71 - 575.40|
|52 Week Range||471.90 - 868.00|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||12.04|
|Earnings Date||May 22, 2019|
|Forward Dividend & Yield||0.30 (5.39%)|
|1y Target Est||779.00|
Britain's government will take measures to identify and reduce risks taken by private firms that provide public services, it will say on Wednesday, in a bid to encourage companies that have become increasingly wary of taking on new government business. Britain, which hires private firms to run parts of its health service, schools, prisons and public transport, has been rethinking how it awards contracts after the collapse of contractor Carillion just over a year ago. "A more considered approach to risk allocation will make us a smarter, more attractive client to do business with," cabinet office minister Oliver Dowden will tell business leaders at the Confederation of British Industry on Wednesday.
The Ministry of Defence has come under renewed pressure over its decision to put a £1bn contract to build support vessels for the Royal Navy out to international tender amid rising fears of job losses at British shipyards. Julian Lewis, the Conservative MP who chairs the House of Commons defence select committee, has written to Stuart Andrew, the minister for defence procurement, asking why the government did not classify the three auxiliary ships as warships. In the letter, which was sent last week, Mr Lewis pointed out that both Italy and France classified their equivalent ships as warships and decided to follow a single-source procurement process.
Britain's Babcock aims to expand its foreign business but will not chase risky growth to resolve a "nightmare" period in which the engineering group's management and stock price came under fire, Chief Executive Archie Bethel said on Wednesday. Babcock, a key supplier of engineering and defence services to Britain's Ministry of Defence with around £5 billion in annual revenue, has lost 25 percent of its stock market value in the past six months. Providing services ranging from the maintenance of nuclear submarines to aerial fire-fighting across Europe, Babcock now needs to rebuild its reputation and repair ties with investors.
From Britain's hospitals and schools to its prisons and armed forces, firms supplying essential public services have been asked by the government to outline plans for a no-deal Brexit. "The government has written to some of us asking us 'what are you doing in preparation for a no-deal?' - which is timely, at eight weeks to go," one industry source told Reuters, speaking on condition of anonymity. Private firms including Babcock, Capita, Serco, G4S, Mitie and Compass play a central role in providing Britain's public services, which means they have to procure medicines, toiletries, food, spare parts and labour, much of which come from the EU.
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The British outsourcing market shrank 27 percent to 2.5 billion euros (£2.2 billion) in 2018, weighed down by uncertainty around the nation's decision to leave the European Union, research firm Information Services Group (ISG) said on Friday. In Europe, the Middle East and Africa (EMEA) traditional business services contracted out to the sector, providing work for companies such as Capita, Serco and Mitie, rose 9 percent year-on-year however to 12.9 billion euros in 2018. Within that, traditional services which do not require cloud computing shrank 6 percent but other services which do expanded by almost half to 4.9 billion euros, the research found.
EDINBURGH (Reuters) - The chairman of British engineering firm Babcock (BAB.L), Mike Turner, will step down in July, the group said on Thursday, after a decline in its share price and company warnings ...
By Danilo Masoni and Helen Reid MILAN/LONDON (Reuters) - European shares rose on Wednesday in a broad-based bounce that saw the battered tech sector recover following a sharp sell-off on worries over iPhone ...
EDINBURGH (Reuters) - British engineering and defence services firm Babcock (BAB.L) expects to review shareholder returns policy once it is in the right shape, Chief Executive Archie Bethel told analysts ...
British engineer Babcock (BAB.L) will take a charge of 120 million pounds to shrink parts of its business after it warned that income from nuclear decommissioning would fall sharply next year, sending its shares tumbling. Babcock, a key partner of Britain's Ministry of Defence (MoD), has come under intense scrutiny in recent weeks after an anonymous research group questioned the management of its business, meaning its results had been highly anticipated. On Wednesday the group said the exceptional charge would cover the closure of a shipyard and the restructuring of its Oil and Gas business, including the sale of helicopters facing less demand for transporting workers to offshore platforms.
British engineering firm Babcock (BAB.L) said on Monday the net cash cost of strengthening its business would not be material as it sought to allay doubts about its financial health which have hit its shares and management reputation. Shares in Babcock, whose biggest client is Britain's Ministry of Defence, have fallen around four percent in the past week and by around one fifth in the past six months. Sky reported on Friday that an exceptional and partly non-cash charge of up to 100 million pounds ($128.53 million) was possible as part of half year results, and that the company was in the process of quantifying the amount.
The British engineering and support services group trains the London Fire Brigade and it operates aircraft that extinguish forest blazes in Spain and Italy. After the collapse of another U.K. outsourcer, Carillion Plc, and amid concerns about constrained defense budgets (much of Babcock’s work is for the military) bearish investors hold short positions covering 9 percent of the stock, according to IHS Markit.