StockMarketWire.com - Defence contractor Babcock International upwardly tweaked its annual operating profit guidance, though it also warned of an £85m exceptional charge.

Underlying operating profit for the year through March was now expected to come in at between £540m and £560m, up from previous guidance of 'around £540m'.

The company, however, said its expectations for underlying earnings per share were in line with current consensus expectations. Underlying revenue was still expected at around £4.9bn.

Babcock International said it would restructure its aviation division and would also write down assets in its oil and gas business.

'We expect to incur an exceptional charge related to these issues of around £85 million, predominantly in oil and gas,' the company said.



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