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 reportsOne 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…
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