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Article The Guardian World News

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

The Guardian World News June 22, 2026 · 9:41 am Read Original
Bearish -55.0
−100 Bearish 0 +100 Bullish
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 its contract to build five Type 31 frigates for the Royal Navy. Continue reading...

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Article Info
Source The Guardian World News
Published Jun 22, 2026 · 9:41 am
Article ID v5fxrit
Original URL Open source
Sentiment Signal
Bearish -55.0
−100Neutral+100
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