Search This Blog

Friday, February 18, 2011

Cancelled OPV deal costs BAE £100m

Trinidad and Tobago OPVBritish defence manufacturer BAE Systems has taken a £100 million sterling hit on its financial accounts because the Trinidad and Tobago government cancelled the purchase of three offshore patrol vessels built by the UK company.

The charge on BAE's financial performance converts to an expense absorbed by the company of just $1 billion.

BAE Systems yesterday released its 2010 financial statements in the United Kingdom, showing that its operating profit at the end of last year was £1.63 billion, up from £966 million in 2009.

Read more
om

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.