Babcock says Brexit and Covid beset Royal Navy contract as profits plunge
Babcock International reported a 19% drop in annual profits due to losses on its Royal Navy contract, citing Brexit and Covid as major factors. The firm recorded a £140 million charge related to the Type 31 frigate program, impacting its operational performance. Despite challenges, Babcock's other sectors showed strong growth, securing £9.8 billion in forward contracts.
Summary by OZbrief Editorial · The Guardian Australia – Business · Source
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Published 22 Jun 2026, 09:41 UTC · Updated 22 Jun 2026, 10:00 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia – Business. Editorial policy · Corrections
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