BABCOCK International, the operator of the Faslane and Rosyth shipyards, yesterday told shareholders at its annual meeting that trading was in line with expectations but warned there were continuing delays with a number of government defence contracts. The company, which has won control of rail engineering group Peterhouse, owner of Glasgow-based First Engineering, said confirmation of the chancellor of the exchequer's spending review next week should clarify the Ministry of Defence budget and could release some of the delayed programmes.
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