Babcock says Brexit and Covid beset Royal Navy contract as profits plunge

Underlying operating profits down 19% with 2019 frigate-building programme making loss, firm reports Business live – latest updates One 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 frigates f

Summary aggregated from The Guardian's public RSS feed. The full reporting belongs to The Guardian — please read it on their site.