Mark Leftly: Babcock catches the City with its defences down
Westminster Outlook Babcock International’s share price has fallen this year. Yesterday, the FTSE 100 group’s order backlog was up 15 per cent to £18.5bn, reflecting huge contract wins in defence, nuclear decommissioning and naval repairs.
Even with a “very harsh post-election defence review”, as scribblers at Edison put it, the City has called this stock wrong.
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