Babcock International Group plc interim dividend of 2.0 pence per ordinary share (HY24: 1.7 pence per share) is payable on Friday 17 January 2025 to shareholders whose names appear on the register at the close of business on Thursday 05 December.
Other financial highlights include:
-Contract backlog £9.5 billion flat vs HY24, or down 8% vs FY24 driven by execution on long-term contracts. Key contracts expected in H2
-Revenue of £2,409 million increased 11% on an organic basis, driven by strong growth in Nuclear and Land
-Underlying operating profit up 10% (at constant FX) to £169 million, driven by growth and margin improvement in Nuclear and Land
-Underlying operating margin was 7.0% (HY24: 7.1%). The prior period included high margin AH140 frigate license sales
-Underlying EPS up 14% to 23.5 pence
-Underlying operating cash conversion was 80% (HY24: 82%)
-Underlying free cash flow increased 41% to £95 million reflecting the profit performance and working capital timing
-Net debt to EBITDA reduced to 0.6x on a covenant basis. Net debt excluding leases reduced to £146 million
