VT Group’s headquarters in Southampton will close in July.
Babcock International will focus on integrating the company which it agreed to buy for £1.3bn in March.The Financial Times says closing the head office will generate some savings although significant sales synergies will probably not come for another 18 months.
Operating margins jumped nearly two percentage points to 11.8% in the full year, which Tempus, in The Times, says reflects the continued efficiencies from its purchase of Devonport dockyard.
12/05/10 Financial Times 22 Times 45 Daily Telegraph B2
