Babcock International pushed upwards by trading update

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Babcock International pushed upwards by trading update
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The price of shares in FTSE 250 defence and aerospace company Babcock International (LON:BAB) has risen by 4.43% to 565.20p (as of 14:05 BST) after confirmed it was on track to meet full year guidance. Management said that the marine division was performing well with increased activity in the warship support business and technology arm. Trading was slowing in the civil nuclear market, but rising on the defence side of the industry.

The company has also refinanced its revolving credit facility and issued €550 million in bonds after its BBB credit rating was confirmed. This is expected it increase finance costs for the next two years before reducing them in the subsequent years.

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