Babcock rides the boom
The British defence contractor has profited from government spending sprees this year. Will its run continue? Matthew Partridge reports
The British defence contractor has profited from government spending sprees this year. Will its run continue? Matthew Partridge reports
Babcock International, the UK’s second-largest defence contractor, has been the best performer on the FTSE 100 index this year, says Sylvia Pfeifer in the Financial Times: the stock has gained 122%. Last week the group raised its dividend and increased its estimate of future profits. CEO David Lockwood was extremely bullish, hailing what he sees as the “new era for defence”, with countries showing an “increasing recognition of the need to invest in defence capability and energy security, both to...