Speaking at a roundtable on Wednesday (19 March), Savvides pointed to his fund’s holding in Babcock, a British aerospace, defence and nuclear engineering business based in London, which runs a number of ship dockyards for the UK government.
According to data from MarketWatch, shares in the UK defence company have risen 14.9% in the past month alone and 49.2% since the beginning of the year.
Reeves allocates £2bn to UK defence companies to unlock overseas orders
The earnings which derive the company’s price-to-earning ratio – currently at 24.32, according to Hargreaves Lansdown’s fi…