Topic
defence-contracting
2 stories related to this topic, newest first.
ukdefencejournal.org.ukfinance63 days ago
Babcock Reports £140m Remedial Costs on First Two Type 31 Frigates
Babcock International said the first two vessels, HMS Venturer and HMS Active, are out of sequence due to identical mistakes, pushing cumulative losses on the programme above £300 million. Both ships have been floated for fitting out while the company absorbs the overrun under it…
The Independenttechnology64 days ago
Babcock Reports £140 Million Charge on Royal Navy Frigate Contract
Babcock said it recorded a £140 million charge related to design changes and late-stage reworks on its Type 31 frigate programme for the Royal Navy. The company is building five frigates at its Rosyth shipyard in Fife. Revenues rose in the year to the end of March but underlying…