Ministry of Defence vehicle supplier Babcock International has defended its finances, claiming that they are “healthy” following a report by analyst group Boatman Capital Research which claimed the company was “burying bad news about its performance”.
Babcock called the report “false and malicious”, it had claimed that the company had overpaid when it purchased search and rescue helicopter supplier Avincis in 2014 for £1.6bn.
The vehicle supplier issued a statement which read: “Babcock is issuing this statement to address recent speculation following the release of a report by the anonymous and so far untraceable Boatman Capital.
“This report included many false and malicious statements which the group strongly refutes. At the same time, the group continues to seek to discover who is behind Boatman Capital.”
In the same report, the UK government said: “We monitor the health of all of our strategic suppliers, including Babcock, and remain committed to working with them on a wide range of programmes.
“Babcock plays a key part in equipping our world leading armed forces and the MoD spent more than £1.7bn with the company last year, supporting thousands of jobs across the nation.”