Babcock adds £2.5bn in orders

30th Mar 2010 08:12

Defence services group Babcock International said a recently agreed deal with the Ministry of Defence would boost the value of its order book by 40%.The group's order book will be increased by about £2.5bns to around £8.5bn, Babcock's chief executive Peter Rogers said.Babcock, which sealed a successful takeover of rival VT Group this month, also confirmed that trading in the second half of the year has remained resilient.The group announced last week that the transaction will be worth about 735p for every VT share based on Babcock's latest closing price, comprising 361.6p in cash and 0.701 new Babcock shares, and values VT at about £1.33bn.