Babcock hits back at negative analyst report

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Babcock hits back at negative analyst report
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FTSE 250 engineering outfit Babcock (LON:BAB) has pushed back against a recent analyst report described as containing false and malicious statements. The group said it was attempting to discover who was behind the report but that the authors remained anonymous at this point.

The company also said that half year results would be published later this month. It added that it retained a strong cash position as it exited a number of low margin businesses including the Appledore shipyard.

Babcock’s share price rose by 2.13% to 613.20p (as of 13:15 GMT).

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