Various news media outlets reporting, that due to issues with the Type 31 builds, Babcock have reported a £140 million charge as it "admitted it built the first two in the wrong sequence. " - mostly affecting
Venturer, somewhat affecting
Active, and minimally affecting Formidable and Bulldog. Better be more careful with their Virginia Block VI work...
Defence giant Babcock has revealed it took a £140 million hit for late-stage reworks to its newest Royal Navy warships.
The London-listed company, which is a major contractor for the Ministry of Defence, told investors that its annual financial results had been impacted by the charge on its Type 31 contract.
Under the contract, Babcock is set to deliver five frigates that are being built at its manufacturing site in Rosyth in Fife.
The first and second ships took to the water for the first time during the past year after four years of construction.
But Babcock said on Wednesday it had experienced “higher than expected levels of rework as a result of changes to the design” and that the work “is being performed in the later stages of completion, and therefore is more complex and more costly”.
PA Media via STV