Strong Set of Full-Year 2018 Results as Babcock Overcomes Lower Volumes of QEC Aircraft Carriers
Narrow-moat Babcock's 2018 report supports our view that the firm is one of the main beneficiaries of rising U.K. defence budgets and a pickup in outsourcing in the international defence market. Revenue including joint ventures increased to GBP 5.3 billion, up 2.8% year on year, despite a decrease of GBP 113 million in marine revenue due to the final stages of completion of the U.K.’s QEC Aircraft procurement and support programme. Solid profitable growth in land, aviation, and nuclear plugged t...Babcock International Group is a holding company. Through its subsidiaries, Co. operates in four sectors: Marine, which provides an array of marine and naval engineering services; Land, which provides fleet management and training for customer-owned defense, emergency services, global airport and commercial vehicle fleets, as well as engineering services and technical training for customers worldwide; Aviation, which delivers an array of engineering services to defense and civil customers; and Cavendish Nuclear, which delivers nuclear engineering on nuclear decommissioning programs and projects across the U.K., as well as nuclear engineering services in training and operation support.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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