15 May 2019
Babcock International Group PLC (Babcock or the Company)
Response to publication of anonymous report
Babcock notes the report issued today by the anonymous entity, 'The Boatman Capital Research'. Whilst the minor allegations made are inaccurate and misleading, this is the second malicious attack by Boatman and we feel it is right to, once again, refute their allegations publicly as we are unable to engage with them directly.
Our DSG business is performing to financial expectations and we continue to see opportunities for growth. We have regularly updated the market on progress and can confirm that we do not intend to make any impairment in regard to DSG.
Historically the Group has grown through acquisitions and contract awards, which is reflected in our legal structure - however we manage the Group through our four sectors, and report to the market on the same basis. Our accounting structure does not add any significant costs or complications in the running of the Group. We have made no major acquisitions in the last five years.
The report repeats false claims made in Boatman's initial report six months ago. As announced to the market, we signed a Joint Ways of Working Charter with the Cabinet Office and Ministry of Defence in November, which reflects our joint cooperative approach on an enduring and consistent basis. This response has been issued in consultation with the MOD.
We look forward to publishing our Full Year results on the 22 May, and holding our Capital Markets Day on 5 June.
ends
For further information please contact:
Babcock International Group PLC
Simon McGough Kate Hill
Director of Investor Relations Group Director of Communications
Tel: +44 (0)20 3823 5592 Tel: +44 (0)20 7355 5312
FTI Consulting
Andrew Lorenz
Nick Hasell
Tel: +44 (0)20 3727 1340
