DEVONPORT dockyard operator Babcock International Group Plc has seen profits leap to nearly £170m after progress on the £1bn rebuild of the base's submarine dock.
The defence giant's newly published half-year results revealed work in Plymouth was key to its growing revenue and profits.
Figures for the six months to the end of September, showed Babcock's underlying operating profit had leapt to £168.8m from £154.4m reported in September last year, and up from £121.7m in 2022.
Revenue had gone up to £2,408.9m, from £2,177m in September 2023 and £2,144m the year before, with net debt slashed to £385.6m from £492.5m in September 2023 and £1,039m in September 2022.
This story is from the November 15, 2024 edition of The Herald.
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This story is from the November 15, 2024 edition of The Herald.
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