UK's Babcock books $190 million charge on Type 31 frigate contract
13/05/2026 07:12
May 13 (Reuters) - Britain's Babcock BAB.L on Wednesday said it expects to take a 140-million-pound ($189.64 million) charge on its Type 31 frigate contract due to higher-than-expected rework costs, though the defence contractor kept its outlook for the coming year unchanged. ($1 = 0.7382 pounds) (Reporting by Yamini Kalia in Bengaluru) ((Yamini.Kalia@thomsonreuters.com))