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Babcock aims to grow international business to 30 pct of turnover in 5 yrs

Published 2016-11-22, 03:51 a/m
© Reuters.  Babcock aims to grow international business to 30 pct of turnover in 5 yrs
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EDINBURGH, Nov 22 (Reuters) - Babcock International BAB.L aims to expand its foreign business to make up 30 percent of sales, CEO Archie Bethel said on Tuesday, adding that prospects for the defence sector had been underpinned by recent political events.

"Our strategy is built round continuing to grow (our) UK (business) but moving the international divisions forward," the CEO of the defence and engineering support services firm said.

"We haven't set any real targets (for our international business) but I think that it wouldn't be unrealistic (...) if in 5 years time we were over 30 pct of turnover, that would be something we'd be happy with," CEO Archie Bethel told Reuters.

Babcock's international business currently makes up around 22 or 23 perent of total turnover, versus about 15 percent last year.

He added that the group would largely keep its geographical footprint unchanged, building up business in countries where it is already present such as Canada and Australia.

Asked what impact the vote to leave the EU and the election of Donald Trump might mean for the defence sector, he said: "I don't see anything happening in the world that makes me think that there isn't a need for the UK and other countries, particularly NATO countries, to maintain and probably enhance defence capabilities," he said.

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