VT sinks on delay talk.
Investors Chronicle - magazine and web content, January, 2008
Shares in the ship builder and support services group fell on unconfirmed media reports that there could be a delay to its contract to build two new aircraft carriers. Stephen Gunnion
Shares in VT Group fell over 8 per cent following media reports that the Ministry of Defence (MoD) may delay its GBP3.9bn contract for two new aircraft carriers - to be built by a joint venture formed between VT Group and BAE Systems- due to budgetary constraints. Shares in BAE Systems were just over one per cent lower. VT Group plans to use the joint venture, which will merge its naval support and ship-building operations with BAE Systems', to facilitate its exit from ship building altogether within three years in order to focus on its growing support services business. ...
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