Financial Services

BUZZ-Babcock International: dented by Brexit restructuring costs

** Shares of British defence contractor down 5 pct – top loser on the Midcap index

** BAB hit by one-off tax cost of ~10 mln pounds and sees ongoing cost of 10 million pounds annually to restructure aerial fire-fighting business ahead of Brexit

** Reports a fall in FY underlying revenue, hit by delayed power station outages in South Africa

** Other contact providers such as Experian, Mitie Group and Serco Group down ~1 pct each

** Including Tuesday’s losses, BAB has lost ~18 pct of its stock value in the last 12 months

Reporting by Karina Dsouza in Bengaluru


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