Babcock International Group PLC
19 October 2007
19 October 2007
Babcock International Group PLC
Change in Segment Reporting
As previously announced, Babcock International Group will be amending the format
of its segment reporting.
Following the acquisition of Devonport Management Ltd (DML) in June 2007 the
divisional structure of the Group will be realigned to reflect more clearly the
activities and work streams of the business.
The newly formed Marine division will include Babcock Engineering Services (BES)
at Rosyth, Babcock Naval Services (BNS) at HMNB Clyde (Faslane) and Devonport
Management Ltd (DML), Plymouth. The Marine division will be the sole support
partner to the Royal Navy's submarine fleet and will be a major partner in the
provision of support to the current surface fleet and to the CVF project. The
division will also include the Group's civil and military nuclear businesses
under BNS Nuclear.
The Defence Services division will consist of Babcock Defence Services (BDS) and
Babcock Infrastructure Services (BIS). Defence Services will continue to focus
primarily on the provision of facilities management, equipment support and
training expertise to the British Armed Forces. BNS at HMNB Clyde previously
formed part of the Defence Services division.
The Technical Services division, which included the results of BES at Rosyth and
Alstec's nuclear businesses, will be discontinued as a reporting segment. The
Rail, Engineering and Plant Services and Networks divisions remain unchanged.
The new segment reporting will be adopted with our interim results to be
published on 13 November 2007. In preparation for this we have restated the
half year results to 30 September 2006 and the full year results to 31 March
2007. These are set out below.
For half year ended 30 September 2006
Operating profit
before acquired
intangible Acquired
amortisation and intangible
exceptional items amortisation and
Revenue exceptional items Operating profiy
£m £m £m £m
RESTATED RESTATED RESTATED RESTATED
Marine 131.0 11.1 (0.8) 10.3
Defence Services 118.4 9.8 (0.7) 9.1
Rail 115.6 4.4 (1.8) 2.6
Engineering & Plant Services 80.2 6.7 - 6.7
Networks 42.4 4.8 (0.3) 4.5
Unallocated (3.3) (0.6) (3.9)
Total Continuing Operations 487.6 33.5 (4.2) 29.3
For full year ended 31 March 2007
Operating profit
before acquired
intangible Acquired
amortisation and intangible
exceptional items amortisation and
Revenue exceptional items Operating profit
£m £m £m £m
RESTATED RESTATED RESTATED RESTATED
Marine 271.7 25.6 (1.5) 24.1
Defence Services 247.3 20.4 0.6 21.0
Rail 228.8 9.3 (4.1) 5.2
Engineering & Plant Services 165.6 13.3 - 13.3
Networks 74.9 6.8 (0.3) 6.5
Unallocated - (7.1) (0.2) (7.3)
Total Continuing Operations 988.3 68.3 (5.5) 62.8
Note: There has been no change to the share of joint venture results.
Ends
Contact:
Babcock International Group PLC
Bill Tame, Finance Director Tel: 020 7291 5000
Financial Dynamics
Andrew Lorenz Tel : 020 7269 7221
Susanne Yule
This information is provided by RNS
The company news service from the London Stock Exchange ND
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