Babcock hikes guidance as Skynet satellite programme ramps up

Defence corporation Babcock has raised its full-year revenue and profit forecasts as its Nuclear and Marine divisions experience a surge in business.

The FTSE 250 company announced on Thursday that it anticipates its underlying operating profit to surpass the highest analyst predictions, which ranged from £327.1m to £339.7m, as reported by City AM.

Revenue is projected to reach approximately £4.9bn, exceeding estimates of £4.51 to £4.8bn. Babcock attributed this upgrade to "double-digit organic growth