Babcock hit by Royal Navy changes

Defense contractor Babcock has taken a £140 million profit hit due to design changes and reworks on new Royal Navy frigates.

The company is currently building five Type 31 vessels at its Rosyth shipyard in Scotland.

The financial impact was revealed in the firm's annual results, which nonetheless showed overall revenue growth.

Babcock stated that it is working closely with the Ministry of Defence to address the challenges and ensure the timely delivery of the warships.