Continued growth driven by strong underlying operational performance - business model and strategy well suited to current economic environment
− 27% growth in underlying revenue, 12% organic growth at constant exchange rates
− 37% growth in underlying operating profit, 11% organic growth at constant exchange rates
MCS (formerly Avincis) delivered 22% revenue growth - business performing in line with our expectations at time of acquisition
− integration progressing smoothly and establishing growth platform for wider Group
Cash conversion of 113% (2014: 103%)
Sustained focus on creating value for shareholders
− 10.3% increase in basic underlying eps to 68.5p
− 10.3% increase in full year dividend
Acquisitions and significant contract wins create strong platform for growth
Record £20 billion order book provides excellent revenue visibility
Peter Rogers, Chief Executive commented
"Babcock performed strongly last year, both organically and through acquisitions. We achieved double digit organic growth in revenue and operating profit driven by major contract wins and by expanding the size and scope of existing contracts. Growth from Marine and Technology and Support Services has been particularly compelling.
Our recent acquisitions have continued to perform in line with our expectations and have created an excellent platform for future growth.
We continue to ensure that our financial success is aligned with the interests of our shareholders through the 10% increase in the dividend."