Babcock shares hit a five-year high after the group reported srong growth in its Marine business, with progress in the refit of the HMS Victorious submarine and construction of three warships for the Navy.
The company highlighted strong growth in its Marine business, with progress in the refit of the HMS Victorious submarine and construction of three warships for the Navy.
On the downside, Compass shed 2pc, or 56p, to 2734p after the catering giant warned of substantial impact if foreign exchange rates persist for the remainder of the year – even as it reported a 9.2pc rise in first-quarter organic revenues.
The group still anticipates higher profit and revenue for 2024, and said the new year started strongly despite consumer spending headwinds.
Babcock noted double-digit organic growth from its nuclear business in the three months to the end of December as well – news that propelled it 6,5pc, or 35.5p, higher to 578p.
