https://sputnikglobe.com/20241113/uk-defense-contractor-training-ukrainian-f-16-pilots-reports-rapid-revenue-growth-1120877389.html
UK Defense Contractor Training Ukrainian F-16 Pilots Reports Rapid Revenue Growth
UK Defense Contractor Training Ukrainian F-16 Pilots Reports Rapid Revenue Growth
Sputnik International
Babcock International Group, a top UK defense contractor that played a crucial role in the country’s training program of Ukrainian F-16 pilots, enjoyed 11% growth in revenue year-on-year during the first six months of its fiscal year 2025, the company said in a statement detailing its earnings on Wednesday.
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"Group revenue increased 11% on an organic basis to £2,409 million [$3 billion] with good growth in our three largest sectors, which represent over 90% of our operational business," the statement said. The period of the swift revenue growth for Babcock was the six months before September 30, which were the first half of its fiscal year 2025. Babcock attributed to the UK government's growing defense spending, resulted from its strong support for Ukraine, as a key driver of its business growth. "The new UK Government is committed to spending on defence. In the 2024 Autumn budget, it reiterated its commitment to a defence budget of 2.5% of GDP and a £2.9 billion increase to defence spending for 2026. It also confirmed the additional £3 billion annually to support Ukraine," the statement said. As one of the top defense contractors in the United Kingdom, Babcock detailed the important role it played when the first 10 Ukrainian F-16 pilots graduated from the Elementary Flying Training (EFT) phase of the program in March. "Babcock has supplied the Grob Tutor aircraft for this phase, including all the technical and operational support functions. Our team has ensured that the training programme was completed ahead of time and aircraft availability was 100%," the company said at the time, adding that it would provide support for the second phase of flight training for the Ukrainian pilots. Eight Ukrainian F-16 pilots completed the full training program, dubbed as Operation Interstorm, in late October. In addition to providing support for training Ukrainian F-16 pilots, Babcock also played critical roles in UK’s military aid to the Ukraine’s land forces and naval forces. "As part of the tripartite agreement between Babcock, the UK Government and Ukrainian Government, Babcock is the lead industrial partner in Ukraine’s Capability Enhancement Programme and is currently supporting the Ukrainian Navy with the maintenance of two mine countermeasures vessels following their transfer from the UK Royal Navy," the company said. At the same time, the land armored vehicles the UK supplied to Ukraine could not operate without support from Babcock. "Babcock is providing operational support to Land armoured vehicles, such as Challenger 2 tanks, training Ukrainian personnel and managing vital equipment, supply chains and spares," the company said. In its latest statement on corporate earnings released on Wednesday, Babcock detailed the Ukraine-related contracts the company secured during the reporting period. "In May 2024, we announced work was underway on the establishment of an in-country facility to deliver engineering support, including the repair and overhaul of military vehicles, to be delivered in partnership with UDI, Ukraine’s state-owned defence industry. In July 2024, we were awarded an extension, with further options to extend, to our initial one-year contract to support urgent operational requirements for Ukraine’s UK-gifted military land assets. In addition to maintaining military vehicles and equipment, Babcock is managing the supply chain and spares. We also support Operation Interflex, the British-led multinational military operation to train and support the Armed Forces of Ukraine," the statement said. The Ukraine-related contracts on supporting UK-supplied armored vehicles contributed directly to the growth of Babcock’s business segment listed under "land," which experienced 8% year-on-year revenue rise to 591.3 million pounds during the reporting period. Following the full escalation of the military conflict in Ukraine in February 2022, the United Kingdom became one of the top European countries that advocated for strong military support for Kiev and sent weapons worth billions of US dollars to the country. In addition to offering training for Ukrainian F-16 pilots, the UK has sent power weapons, such as the Challenger 2 tanks, anti-tank missiles, artillery guns, air defense systems and the Storm Shadow cruise missiles, to Ukraine. According to the latest data from the UK government, the country has provided 7.8 billion pounds in military support to Ukraine since early 2022, while pledging to sustain an annual 3 billion pounds in military aid until 2030 to 2031.
https://sputnikglobe.com/20240831/f-16-crash-in-ukraine-not-surprising-ukrainian-pilots-trained-sloppily---expert-1119969538.html
https://sputnikglobe.com/20240925/uk-depleted-own-weapon-stockpiles-by-helping-ukraine-1120289456.html
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UK Defense Contractor Training Ukrainian F-16 Pilots Reports Rapid Revenue Growth
15:07 GMT 13.11.2024 (Updated: 15:42 GMT 13.11.2024) MOSCOW (Sputnik) - Babcock International Group, a top UK defense contractor that played a crucial role in the country’s training program of Ukrainian F-16 pilots, enjoyed 11% growth in revenue year-on-year during the first six months of its fiscal year 2025, the company said in a statement detailing its earnings on Wednesday.
"Group revenue increased 11% on an organic basis to £2,409 million [$3 billion] with good growth in our three largest sectors, which represent over 90% of our operational business," the statement said.
The period of the swift revenue growth for Babcock was the six months before September 30, which were the first half of its fiscal year 2025.
Babcock attributed to the UK government's growing defense spending, resulted from its strong support for Ukraine, as a key driver of its business growth.
"The new UK Government is committed to spending on defence. In the 2024 Autumn budget, it reiterated its commitment to a defence budget of 2.5% of GDP and a £2.9 billion increase to defence spending for 2026. It also confirmed the additional £3 billion annually to support Ukraine," the statement said.
As one of the top defense contractors in the United Kingdom, Babcock detailed the important role it played when the first 10 Ukrainian
F-16 pilots graduated from the Elementary Flying Training (EFT) phase of the program in March.
"Babcock has supplied the Grob Tutor aircraft for this phase, including all the technical and operational support functions. Our team has ensured that the training programme was completed ahead of time and aircraft availability was 100%," the company said at the time, adding that it would provide support for the second phase of flight training for the Ukrainian pilots.
Eight Ukrainian F-16 pilots completed the full training program, dubbed as Operation Interstorm, in late October.
In addition to providing support for training Ukrainian F-16 pilots, Babcock also played critical roles in UK’s military aid to the Ukraine’s land forces and naval forces.
"As part of the tripartite agreement between Babcock, the UK Government and Ukrainian Government, Babcock is the lead industrial partner in Ukraine’s Capability Enhancement Programme and is currently supporting the Ukrainian Navy with the maintenance of two mine countermeasures vessels following their transfer from the UK Royal Navy," the company said.
At the same time, the land armored vehicles the UK supplied to Ukraine could not operate without support from Babcock.
"Babcock is providing operational support to Land armoured vehicles, such as Challenger 2 tanks, training Ukrainian personnel and managing vital equipment, supply chains and spares," the company said.
In its latest statement on corporate earnings released on Wednesday, Babcock detailed the Ukraine-related contracts the company secured during the reporting period.
"In May 2024, we announced work was underway on the establishment of an in-country facility to deliver engineering support, including the repair and overhaul of military vehicles, to be delivered in partnership with UDI, Ukraine’s state-owned defence industry. In July 2024, we were awarded an extension, with further options to extend, to our initial one-year contract to support urgent operational requirements for Ukraine’s UK-gifted military land assets. In addition to maintaining military vehicles and equipment, Babcock is managing the supply chain and spares. We also support Operation Interflex, the British-led multinational military operation to train and support the Armed Forces of Ukraine," the statement said.
The Ukraine-related contracts on supporting UK-supplied armored vehicles contributed directly to the growth of Babcock’s business segment listed under "land," which experienced 8% year-on-year revenue rise to 591.3 million pounds during the reporting period.
Following the full escalation of the military conflict in Ukraine in February 2022, the United Kingdom became one of the top European countries that advocated for strong military support for Kiev and sent weapons worth billions of US dollars to the country.
In addition to offering training for Ukrainian F-16 pilots, the UK has sent power weapons, such as the Challenger 2 tanks, anti-tank missiles, artillery guns, air defense systems and the Storm Shadow cruise missiles, to Ukraine.
According to the latest data from the UK government, the country has provided 7.8 billion pounds in military support to Ukraine since early 2022, while pledging to sustain an annual 3 billion pounds in military aid until 2030 to 2031.
