Babcock Performing Well

Positive news for the industry as Babcock International Group Plc, the U.K. defence and engineering contractor, said its performance so far this year has met company targets after the company secured several large naval orders.

Babcock has won new orders valued at £800 million since the start of its fiscal year on April 1, taking the backlog to £3.8 billion , the London-based company said in a Regulatory News Service statement. That includes a £675 million contract to build U.K. aircraft carriers.

Chairman Gordon Campbell made acquisitions that positioned Babcock as a supplier of nuclear plant decommissioning and cleanup services for sites including Sellafield and the only maintenance provider to the U.K. submarine fleet. The company announced its first overseas submarine maintenance contract in Canada earlier this month. Campbell will step down later this year and will be succeeded by Mike Turner as non-executive chairman