Brexit and Covid beset Royal Navy contractor as profits plunge
Babcock reports underlying operating profits down 19%, with frigate-building programme making a lossBusiness live – latest updatesOne of the UK’s biggest defence contractors has blamed Brexit and Covid among a catalogue of problems to beset an important contract for the Royal Navy, which led its annual profits to plunge.Profits at Babcock International fell by almost a fifth in the year to the end of March, as the firm reported a £140m charge on its contract to build five Type 31…
Source: www.theguardian.com