The Sun
UK · 5 mins ago
✦ 78◉ Centre
Defence giant Babcock takes £140m hit for late-stage reworks to newest Royal Navy warships
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Credibility 78/100
Partisan intensity 25/100
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◉ Centre ✓ Fair headline
Defence contractor Babcock reported a £140 million financial hit due to unexpected rework costs on Royal Navy warships, causing its operating profit to decline from £363 million to £293 million year-on-year.
Defence giant Babcock takes £140m hit for late-stage reworks to newest Royal Navy warships
DEFENCE giant Babcock took a £140million hit for late-stage reworks to its newest Royal Navy warships, it said yesterday. The firm, a major Ministry of Defence contractor, said the cost dented its operating profit which fell from £363million last year to £293million. It blamed “higher than expected levels of rework as a result of changes...
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