Updates from Babcock International, MITIE and Cranswick

The FTSE 100 took a 12-point dip on Friday, ending 0.18% down at 6,960.4. Carnival shares lifted 2.2% to 3147p while ITV shares again climbed, up 1.8% to 262p. Compass Group shares also climbed, up 1.7% to 1147p. However miners Glencore and AngloAmerican both fell 1.8% to 293p and 1090p.

Stateside, the Dow Jones inched 20.3 points higher to 18,272.5 with tech stocks taking gains; overall the Dow was up 81 points on the week despite questions about US consumer sentiment.

The main news this morning is Babcock International. Full year revenues are up 27% to £4,503.3m while operating profit climbs 37% to £518.7m, helped by major contract wins. Pre-tax profits climb 32% to £417.7m.

MCS (formerly Avincis) delivered 22% revenue growth says Babcock - the business is performing in line with expectations at time of acquisition with the integration progressing smoothly.

"We achieved double digit organic growth in revenue and operating profit," says boss Peter Rogers, "driven by major contract wins and by expanding the size and scope of existing contracts."

Cranswick final numbers are next up. Revenues climb 0.8% to £1,003.3m (2014: £994.9m) while adjusted profit before tax climbs 10.6% to £57.8m (2014: £52.2m). The recommended final dividend climbs 6.4% to 23.4p (2014: 22.0p).

Sales have exceeded £1 billion for the first time and there was 23% growth in non-EU export sales claims Cranswick. Net debt climbs slightly to £17.3m (2014: £17.0m).

"Our growing international export channels," says chairman Martin Davey, "and strategy of diversifying our product portfolio, leaves the Board confident that Cranswick is well positioned to continue its successful long term development."

Lastly, MITIE claims headline revenue growth of 5.8%, of which 4.9% was organic; headline operating profit comes in at £128.6m, generating a 5.7% operating profit margin MITIE claims.

There's dividend growth of 6.4% to 11.7 pence per share and a return on capital employed of 18.6% (2014: 16.9%). MITIE claims significant de-risking of the business, longer term.

"We are focused," says boss Ruby McGregor-Smith, "on generating profits backed by cash, maintaining strong margins and growing the dividend. With a substantial order book and sales pipeline, we are now well placed to deliver good growth."

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