The Babtie Group recently announced a successful 2002 with pre-tax profits of US$8.6M. Operating profit was up 33.2% to US$11.6M, and turnover was up 14.7% to US$281.3M. “Not only has the group achieved a significant increase in profits but we have also materially strengthened the balance sheet with a £7M [US$11.6M] reduction in net debt and a 56% reduction in gearing,” Dr Chris Masters, non-executive chairman, said. “Looking to the year ahead, Babtie is in an excellent position to continue on the path of sustainable and profitable growth.”
