Babcock International Group PLC - London-based aerospace, defence and nuclear engineering services company - Says trading in line with expectations in the first ten months of its financial year ending March 31. Its outlook for the year is unchanged. Says results will be weighed in the fourth quarter.

Babcock says its new operating model is on track to deliver £20 million in savings in financial 2022.

Free cash flow in the financial year is expected to be significantly negative, it reaffirms, as it spends on additional pension contributions, restructuring, and investments in facilities and upgrading IT. It continues to manage Covid-related costs, as well as continuing inflation and pressures on its supply chain.

Current stock price: 302.60 pence, up 0.5% on Friday

12-month change: up 12%

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