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Babcock 16 September 2026 AGM trading update - Good momentum , trading in line , full year expectations unchanged Babcock International Group ( " Babcock " or " the Group " ) provides an update on the first five months of FY27 ahead of its Annual General Meeting later today . Highlights Trading in line with expectations - full year outlook and medium - term guidance unchanged Continued strong performance in Nuclear and Aviation , with demand across our core defence markets remaining robust CEO transition successfully completed Further £ 200 million share buyback launched in July , expected to complete by end of FY27 £ 250 million six - year sterling bond issued , extending the Group's debt maturity profile Trading on track The Group has maintained good momentum into FY27 , with trading in line and full year expectations unchanged . We continue to make progress against our strategy , through our export and strategic partnership models and product and support capabilities . The Group remains focused on disciplined execution and delivery , cash generation and selective investment to support sustainable growth and shareholder returns . We remain confident that we will achieve our medium - term guidance . CEO transition complete The CEO transition has now successfully completed , with Harry Holt becoming CEO on 31 July , providing continuity in delivery , customer relationships and execution of our strategy . David Lockwood will remain with the Group further supporting the succession until his retirement in January 2027 . Following a comprehensive transition period working closely with David and the wider executive leadership team , Harry has progressed a number of organisational and leadership changes aligned with his priorities . These changes are aimed at driving growth , accelerating further transformation delivery , and continuing to build the capabilities and capacity required to deliver sustainable growth and long - term performance . Harry Holt , Group CEO , said : " Since becoming CEO , I have focused on maintaining disciplined execution , engagement with customers , shareholders and partners , investing in our people and sharpening the Group's priorities for sustainable long - term growth . " We have started FY27 with good momentum and operational delivery , supported by strong demand across our core defence and nuclear markets , while in the near term the UK Government continues to confirm the details of the implementation of their Defence Investment Plan . In this era of global tension and the rapidly changing nature of warfare , our priorities are clear : deliver for our customers , strengthen programme performance , maintain capital allocation discipline and convert our strong market positions into long- term growth . I am excited about the opportunities ahead and I look forward to sharing more at our half year results in November . " Operational highlights Defence nuclear Our six - month Future Maritime Support Programme ( FMSP ) bridging agreement with the UK MOD has enabled us to continue to deliver increasing levels of critical naval base and nuclear submarine fleet support while the new long - term ' Gateway ' support agreement is finalised . Defence programmes • . • Awarded a CAD $ 1.2 billion ( c . £ 0.6 billion ) six - year extension to lead and deliver Victoria Class submarine in - service support for the Royal Canadian Navy , with potential to extend the contract up to the fleet's expected end of life , in the late 2030s . Selected as preferred bidder for an eight - year contract to support operational combat training for the French Air Force , our first combat flight training contract in support of France's warfighting readiness . Announced our collaboration with Supacat to enhance our General Logistics Vehicle offering for the British Army's Light Mobility Vehicle programme , which is intended to replace the retiring Land Rover fleet . The Supacat partnership builds on the delivery of the final British Army Jackal vehicle from our production line , demonstrating our ability to deliver complex vehicle manufacture and integration . Babcock International Group PLC 16 September 2026 1