Babcock flags £1.7B charge after review but unveils turnaround plan

Apr. 13, 2021 12:57 PM ETBabcock International Group PLC (BCKIF)BCKIF, BCKIYBy: Carl Surran, SA News Editor
  • Babcock International (OTCPK:BCKIF +43.3%) skyrockets after the U.K.'s second-largest defense contractor revealed a £1.7B ($2.3B) writedown after re-evaluating its contracts and said it would seek to raise £400M from asset sales.
  • The writedown exceeds Babcock's market value and was much

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