LONDON (dpa-AFX) - Babcock International Group PLC (BAB.L) reported that its profit attributable to owners of the parent for the six months ended 30 September 2024 increased to 129.3 million pounds or 25.2 pence per share from last year's 102.5 million pounds or 19.9 pence per share, reflecting the improvement in underlying earnings and the post tax impact of the specific adjusting items.
Underlying basic earnings per share were 23.5 pence, an increase of 14%, driven by higher underlying operating profit and lower net finance costs and effective underlying tax rate.
Group revenue increased 11% on an organic basis to 2.409 billion pounds with good growth in its three largest sectors, which represent over 90% of its operational business.
The company said its expectations for fiscal year 2025 remain unchanged, with full-year underlying free cash flow expected to be significantly weighted toward the first half. As of October 1, 2024, approximately 90% of fiscal year 2025 revenue is already under contract, positioning the company strongly for the second half of the year. The company said it is confident in its ability to maintain momentum and make further progress toward its medium-term goals, which include achieving mid-single-digit average annual revenue growth, underlying operating margins of at least 8%, and underlying operating cash conversion of at least 80%.
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