Mark Leftly: Babcock catches the City with its defences down

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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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Mark Leftly: Babcock catches the City with its defences down

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