Babcock Posts Rise In H1 Profit

Babcock International Group PLC

reported a gain in its profit for the six months ended September 30. Babcock posted a net profit of 114.1 million pounds ($178.5 million), up from GBP91.6 million, in the year-ago period. Its revenue jumped to GBP1.94 billion from GBP1.58 billion. Its first-half profit before tax jumped to 137.0 million pounds versus 105.9 million, while underlying profit before tax climbed to 187.0 million pounds from 141.7 million pounds. Babcock's earnings per share rose to 23.6 pence from 22.4 pence. Babcock also lifted its dividend to 5.5 pence versus 5 pence in the prior year. Babcock also reaffirmed its profit outlook for the full year.