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Babcock lowers revenue​ forecast due to tough trading, keeps profit outlook

Reuters - UK Focus

EDINBURGH, Feb 6 (Reuters) - Engineering outsourcer Babcock on Tuesday cut its revenue forecast for the 2018 full year to 5.3 billion to 5.4 billion pounds ($7.55 billion), citing a tough British business environment, ​but it kept its underlying profit outlook.

Babcock said group margin was expected to be higher than previously forecast, due partly to efficiency improvements, helping to offset the drag on revenue coming from delays in new orders.

($1 = 0.7154 pounds) (Reporting by Elisabeth O'Leary; editing by Kate Holton)