Babcock International Group PLC Response to publication of anonymous report (1473Z)
15 May 2019 - 11:06PM
UK Regulatory
TIDMBAB
RNS Number : 1473Z
Babcock International Group PLC
15 May 2019
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
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END
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