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Babcock International Group PLC on Thursday said it has begun a dispute resolution process regarding its Type 31 contact with the UK Ministry of Defence.
Babcock is an aerospace, defence and nuclear. | April 20, 2023 ....
Stock prices in London edged into the red, following tepid trade in the US and Asia, while oil prices continued to fall on a weak global demand outlook, dragging down oil company shares.
Babcock International Group PLC (BAB.L) said its underlying profitability for fiscal 2023 is in line with expectations, excluding the potential one-off impact of the Type 31 contract. ....
UK defence engineer Babcock on Thursday said it may have to take a hit of up to £100m on a Royal Navy frigate contract after inflation pushed build costs higher as it argued with the government over who should pick up the bill. ....
Babcock is currently embroiled in a dispute with the Ministry of Defence over increased Type 31 frigate contract costs, with neither side able to agree on who is responsible for covering the additional costs. ....