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Engineering services firm Babcock (LON:BAB) has announced that trading since 1st April has been in line with expectations, with the order book and pipeline steady at £32 billion and roughly 87% of the forecast revenue for the year secured.
Management reiterated that they expect to see single-digit growth in underlying revenues, with stable profit margins for the full year. Earnings guidance has been kept unchanged and it was stated that results for the year will once again be weighted towards the second half.
Shares in Babcock rose by 2.2% to 707.20p (as of 12:30 BST).