(Adds details, background)
Feb 28 Babcock International remains on
track to achieve its full-year targets, the British engineering
support and outsourcing company said on Tuesday, noting that
order intake remained strong.
Babcock, whose financial year runs until the end of March,
has been guiding towards a stronger second half, especially in
its international business as it starts work on some new
"The second half of the year has continued to see trading in
line with our expectations... and the board continues to expect
good opportunities for growth," Babcock said in statement on
The company, whose biggest client is the UK Ministry of
Defence, said it had entered the fourth quarter with its order
book and bid pipeline maintained at its half-year level of 30.8
billion pounds ($38.3 billion).
Britain's outsourcing sector has been hit in recent months
by uncertainty created by the country's vote to leave the
European Union, causing delays to contract decisions and forcing
companies such as Capita and Mitie to issue
On Tuesday, Interserve joined other support services
firms such as Carillion in pointing out that Brexit
uncertainty was delaying the release of government contracts.
($1 = 0.8050 pounds)
(Reporting by Esha Vaish in Bengaluru; editing by Jason