DEFENCE chiefs backing controversial plans to consolidate shipbuilding on the Clyde was billed as a highlight when BAE Systems announced its trading figures for 2013.
BAE - the world's biggest defence contractor based outside America -revealed pre-tax profits of £1.9billion, up 3%, and a 2% rise in sales of £18.2bn. However, profits after tax plummeted by 82% to just £175million when the value of its US businesses were written down by £887m as a result of White House military spending restrictions.
BAE employs 3000 workers in its Glasgow shipyards, but is expected to axe Govan and build a multi-million pound frigate factory at its Scotstoun site.
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article