SHIPBUILDER and defence group VT yesterday forecast a slowdown in its core UK defence support services arm, but said its prospects remained good.
Southampton-based VT, which is building a replacement passenger ferry for the River Tyne, said it expected the UK market for defence support services (DSS) would start to flatten after the next four to five years.
DSS in the UK and overseas remain the company's largest market, accounting for 36 per cent of sales during the year to March 31.
VT, which reported a 63 per cent rise in annual pre-tax profits to £42.9m, said it planned to offset the UK slowdown by continuing to expand in US defence support services and in the UK education and skills sectors.
Chief executive Paul Lester said the group was performing well, with a healthy order book and a strengthened management team.
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