VT anticipates aircraft carrier order

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Manufacturing News, Source : TheManufacturer.com
Published : 29 Mar 2007 14:07
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Warships to schools builder VT Group told shareholders today that it had gained some notable successes in the second half of the year, and “was confident” of a manufacturing contract soon, following its Royal Navy aircraft carrier design work.

In a pre-close statement for the year ending 31 March, VT said the trading of each of the group’s divisions for the year was in line with expectations.

Although it is now dwarfed by services operations like communications, support services, education and skills, VT Shipbuilding secured the UK's first naval ship export orders for nearly 10 years in the form of a contract with the Government of Oman to build three ocean patrol vessels. Prospects for securing further export work in the new financial year remained good, while healthy progress continued on work for the Royal Navy, said VT.

Two bow sections for Type 45 destroyers had been delivered and work was underway at VT on all four subsequent ships. Design work continued to mature on the CVF (aircraft carrier) project and the group was confident that a manufacturing contract would follow in the new financial year.

In December, VT announced that it was in discussions regarding the formation of a joint venture combining its surface ship build and naval support businesses with BAE and these talks continued to make good progress.

VT group chief executive Paul Lester said:" The Group continues to make strong progress with large programme wins in recent months that will ensure good long-term visibility of earnings. We also have several good prospects that are set to generate further growth in both parts of the business."