Mark Leftly: It’s not going to say so but Babcock has done it again
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Version 0 of 1. Westminster Outlook Babcock International should probably start throwing a few quid my way given how often I’m plugging it. At the start of the year, the government contractor was my top share tip as I felt the Coalition would hand Babcock a swathe of outsourcing deals while rivals Serco and G4S recovered from their scandals. Last week I argued that the company’s struggling share price was ridiculous given its £18.5bn order backlog. Now I’ve heard that Babcock has beaten the American group Leidos to a Ministry of Defence deal called the Logistic Commodities and Services Transformation, a £1bn-a-year spending programme on non-military essentials like nuts and bolts. The reason no announcement has yet been made is rumoured to be that Babcock has won so much government work this year – including the £7bn Magnox nuclear decommissioning contract – that it would be awkward to admit it has scooped another big contract. twitter.com/@mleftly |