BAE Systems has said HMS Glasgow, the Royal Navy’s first Type 26 frigate, is set to enter water for the first time.
The defence giant said the ship currently under construction in Govan is set to reach the crucial milestone later this year.
BAE Systems said in its half-year results Scotland highlights: “The Type 26 programme continues to progress well with construction under way on the first three ships.
"Preparations continue for the first of class, HMS Glasgow, to depart our Govan shipyard in Glasgow and enter the water later this year before transitioning to our Scotstoun shipyard for further outfit, test and commissioning.
“Half of the major units of the second ship in class, HMS Cardiff, are erected, while the third ship, HMS Belfast continues to progress after entering manufacture last year.
“Our naval ships business is recruiting 196 apprentices this year, a record number, compared to 93 in 2021.
“We continued our support of Keep Scotland Beautiful’s upstream battle, designed to prevent plastic water reaching the oceans through our rivers. More than 100 colleagues took part in an annual spring clean of the river bank in Govan.”
In the six months to June, the company’s revenues rose to £9.739m against £9.339m over the same period last year.
It also said Cressida Hogg is to become its first female chair, taking over from Sir Roger Carr.
Charles Woodburn, BAE Systems chief executive, said trading in the first half was in line with expectations, adding: “Good operational performance, execution on our strategy and confidence in the outlook enables us today to announce a 5% increase in the interim dividend as well as initiating a new, three-year share buyback programme for up to £1.5bn.”
BAE Systems said it as has a "strong presence in Scotland" with more than 3,700 people located across our naval ships business in Glasgow, maritime services and defence information facilities at Hillend, and regional aircraft operations in Prestwick and RAF Lossiemouth, where it provides support and training for the RAF Typhoon fleet.
Shell posts record £9.5bn 'blockbuster' profit
SHELL has posted record second quarter profits totalling $11.5 billion (£9.5bn).
It comes after the energy giant grew first quarter profits to $9.1 billion (£7.3bn). The energy giant is also increasing shareholder distributions through a $6 billion (£5bn) share buyback programme which is expected to be completed by Q3 2022 results.
Buccleuch back in profit with commercial property and staycation boost
BUCCLEUCH has posted operating profits of £4.472 million for the year to last October, having made losses of £6.81m in the prior 12 months as the coronavirus pandemic weighed on its commercial property and hospitality revenues.
MDS Estates, the parent company of the Duke of Buccleuch’s estates, agriculture forestry, commercial property and renewable energy group, raised turnover to £93.025m in the 12 months to October 31 from £48.667m in the prior financial year.
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