Babcock International Group shares soared to a five-year high after the defence company lifted annual guidance on strong demand its in nuclear and marine segments.
Babcock has also been boosted by a contract to operate Skynet, the Ministry of Defence's military satellite communications system, and rising volumes of liquefied gas cargo handling.
Climbing: Babcock International Group shares soared to a five-year high on Thursday after the defence company hiked its annual guidance.
Russ Mould, investment director at AJ Bell, said: 'It has been an up and down decade for Babcock beset by financial problems and uneven financial and operational performance, but...the past couple of years have seen a revival in fortunes.'.
Defence firms like Babcock are strongly benefiting from governments raising military expenditure in response to the Ukraine war, heightened tensions in the Middle East, and fears over Chinese claims on Taiwan.
