Babcock International lowers revenue forecast for 2018, cites tough trading conditions
Source - SMW
Babcock International lowered its revenue forecast for 2018 to between £5.3bn and £5.4bn amid tough trading conditions and a slowdown in volume of defence sector commodity and spares procurement revenue.
The group said it is on track to achieve another record year in terms of revenue and underlying earnings as full year underlying earnings and cash conversion are expected to be in line with guidance.
The company said group margin is expected to be higher than previously forecast 'due to a combination of more favourable margin mix and a continued management focus on efficiency improvements.'
At 8:10am: (LON:BAB) Babcock International Group PLC share price was -44.2p at 608.4p