Restatement of H1 2022 Results

RNS Number : 2379F

Babcock International Group PLC

03 November 2022

 

Restatement of pass-through revenue and backlog for the half year ended 30 September 2021

3 November 2022

As outlined on 28 July 2022, Babcock International Group PLC's ("Babcock" or "the Group") full year results for the 2022 financial year (FY22) included a restatement of FY21 revenue and contract backlog. This was as a consequence of a re-examination of the presentation of pass-through revenue, as described on page three of the FY22 results statement.

Babcock has today published the restated revenue and associated backlog for the six months ended 30 September 2021 (HY22), ahead of its forthcoming half year results for six months ended 30 September 2022 (HY23).

As a result, in the Land sector revenue and cost of revenue decreases by £96.9 million and contract backlog decreases by £511.6 million in HY22.

There are no other impacts to the HY22 financial information.

The HY23 results will be held on the 22 November 2022.

A presentation of these restatements has been made available on our website at:

www.babcockinternational.com/investors/results-and-presentations

ENDS

For further information:

Andrew Gollan, Director of Investor Relations    [phone]

Kate Hill, Group Director of Communications  [phone]

Tulchan Communications 

Olivia Peters / Harry Cameron  [phone]  

 

END

 

 

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