Babcock International's pre-close statement ahead of the support services group's half-year results was very upbeat given current pessimism surrounding defence spending, with the shares rising more than 4 per cent in response.
IC TIP:
Buy
at
578p
Management said it was in "active dialogue" with ministers and was "confident" in achieving the efficiency savings the Government craves. Following the acquisition of VT Group earlier this year, an update on the integration was also closely monitored. All businesses have now been rebranded and a divisional structure put in place, and the group still expects to achieve planned synergies of £50m.
Price: 584p
When: 1 July 2010
Performance: -1%
