Engineering and defence group Babcock slumped after it warned that revenue and underlying operating profit would fall in the current financial year.

The FTSE 250 group reported a 47 per cent drop in operating profits to £196.5 million in the year to March 2019, as it was dragged down by £161m in one-off costs.

The firm, whose biggest customer is the Ministry of Defence, also saw revenue slide by 4% to £4.47 billion following a number of disposals during the year.

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Earlier this year, Babcock said it was affected by an additional £10 million tax hit due to Brexit.

Shares in the company were down 7% at 471.6p.

Robinsons squash maker Britvic saw profits jump higher, despite recording a decline in the volume of soft drinks sold in the half-year to April 2019.

Pre-tax profits rose by 4.8% to £34.9 million for the period, while revenue rose by 4.9% to £769.2 million.

Britvic's Robinsons, J2O and Fruit Shoot brands all boosted revenue over the half year, it said.

Shares were down 0.8% at 930p.

Pets at Home has seen shares race higher after posting better-than-expected annual results, despite a bottom line hit from its Vet practice restructuring.

Shares in the group surged 11% higher after annual underlying profits beat market forecasts, up 6.1% to £89.7 million for the year to March 28.

The 452-strong chain said retail like-for-like sales rose 5.1% in the year, with group-wide comparable store sales up 5.7%.