The Daily Telegraph - Business - - Business -

Bab­cock has re­ported a 40pc drop in first-quar­ter prof­its and con­firmed it will not pay a fi­nal div­i­dend, send­ing its shares to lows not seen since the fi­nan­cial cri­sis. Its rev­enue fell 11pc. How­ever, the FTSE 250 firm, which counts the Min­istry of De­fence as its big­gest cus­tomer, with con­tracts in­clud­ing main­tain­ing nu­clear sub­marines, said rev­enue in its core busi­nesses grew. Pic­tured are Royal Navy sub­ma­rine staff in a sim­u­lated fire ex­er­cise.

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