UK's Babcock annual profit falls after frigate charge

Babcock International

Mon 07:24

    June 22 (Reuters) - British defence and engineering group Babcock International BAB.L reported a 19% drop in annual underlying operating profit on Monday after a £140 million ($184.90 million) charge on its Type 31 frigate programme for the Royal Navy.
The company reported underlying operating profit of £293.3 million for the year ended March 31, down from £362.9 million a year earlier.
     
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 (Reporting by DhanushVignesh Babu in Bengaluru; Editing by Nivedita Bhattacharjee)
 ((DhanushVignesh.Babu@thomsonreuters.com))