Babcock International Group (LON:BAB), the engineering services company, provided clarification following a report by Sky News regarding exceptional items likely to be included in the Group’s half year results announcement on 21 November 2018.
As indicated to the market in its most recent Trading Update of 19 September 2018, Babcock is currently undertaking a programme to strengthen the Group by exiting a number of small, low-margin businesses, including the Appledore shipyard, and is reshaping its oil and gas business. We announced at that time that we would provide an update on these activities at our half year results. Whilst the exact impact of these actions has yet to be determined by the Board, we do not expect the net cash costs to be material.
