Babcock International has sold US defence business VT Services for £61m to VT Holdings Inc. VT Service was acquired as part of the takeover of VT Group in 2010 and does not fit with Babcocks strategy. Babcock recorded revenue of £3.1bn in 2011, compared with £2.7bn in 2010, while pre-tax profit increased from £216.7m to £274.1m.

The build of a new hi-tech waste treatment and recycling facility are expected to be signed off by the end of 2012 creating around 275 jobs. The project is part of a £750m Private Finance Initiative which is expected to be operational in 2013. The current household waste centres in Fitzwilliam and South Kirkby will close Employees from the two defunct sites will be transferred to the Babcock International Group, which is set to deliver the PFI scheme

Merseyside ship builder Cammell Laird has been appointed preferred bidder on a multimillion-pound ferry contract for Western Ferries. Cammell Laird is to build two vessels for Western Ferries Gourock to Dunoon route. Construction will begin in June 2012 and delivery is due in summer 2013. The contract is expected to create new jobs. 2011 turnover 75.6m, 527 employees.

Cumbria agriculture, food and engineering group Carrs Milling Industries recorded revenues of £196m in the 26 weeks to March 2012, up from £175m in the six months to February 2011. Pre-tax profit increased by 31% from £5.7m to £7.4m. Results for the full year are expected to be ahead of the expectations.