MARKET TALK: Babcock Markets Remain Resilient - Seymour Pierce

8th Jul 2010 08:35

0735 GMT [Dow Jones] Babcock's (BAB.LN) trading update shows that since the beginning of March the order book has remained stable at GBP8.3B and the bid pipeline has remained healthy at around GBP3.3B, says Seymour Pierce. Says all existing contracts are performing in line with expectations, while cash generation remains strong. Expects VT Group (VTG.LN) acquisition to go through today. Keeps buy rating, saying all Babcock's key markets remain resilient and the company has stated that there are significant growth opportunities from further outsourcing in the UK and overseas. Shares +0.4% at 621p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 08, 2010 03:35 ET (07:35 GMT)