PRESS: Babcock International braces for substantial write down - FT

(Alliance News) - Babcock International Group PLC is preparing to write down the value of its ...

Alliance News 9 April, 2021 | 6:40AM
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(Alliance News) - Babcock International Group PLC is preparing to write down the value of its assets and may update the market in the coming days, the Financial Times reported late on Thursday, citing people familiar with the situation.

The cost of the write down is still subject to change, but analysts estimate it could be as high as GBP700 million.

https://www.ft.com/content/9adabd8c-4f5f-4edf-82d5-f931cf6867f6

The London-based defence contractor warned in January that there may be "negative impacts" from a review of its balance sheet.

Shares fell 1.2% to 237.00 pence in London on Thursday.

By Ivan Edwards; ivanedwards@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Babcock International Group PLC 499.20 GBX -0.85 -

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