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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Brexit and Covid beset Royal Navy contractor as profits plunge

Babcock Covid-19 Brexit Royal Navy
An illustration of Type 31 frigates that are being built for the Royal Navy by Babcock.
An illustration of Type 31 frigates, five of which are to be built by Babcock for the Royal Navy. Photograph: Babcock/PA

One 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.

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