Article

Devonport Royal Dockyard Ltd (DRDL) achieved a profit of £73.224m for the year 2024/25, an increase of over £23m from £49.57m the prior year. Revenue rose to £1.749bn, with growth attributed to heightened submarine maintenance activity.

DRDL services the Royal Navy and acquired Babcock Marine (Clyde) Ltd in 2023. The company is discussing a long-term partnering agreement with the MoD to replace expiring Future Maritime Support Program contracts.

Notable maintenance activities included the HMS Audacious and HMS Victorious. Net assets increased from £357.2m to £450.2m, aided by a decrease in pension deficits and property investments. The order book now totals £2.221bn.