EarningsThe macro environment remains supportive, program execution is good, and it is particularly encouraging to see strong growth in Nuclear, given tough comps and the fact that it is the group's highest margin division.
International ExpansionThe International market will play a significant role in medium/long-term growth, with opportunities arising from the customizable and cost-effective Arrowhead design.
Revenue GrowthThe first five months of FY26F see 'encouraging' trading with Babcock achieving organic revenue growth and progress in underlying operating margin, indicating overall trading is in line with the board's expectations.