Vosper Thornycroft is now more dependent on its support services business than on warship building, according to interim results published on Tuesday.
The support services business has a portfolio of 15 contracts worth more than £400m, which include Vosper’s first army training contract.
Turnover for support services business during March-September 1998 was up 78% on the same period last year.
The shipbuilding order book is worth more than £200m, but this is only two years’ work for Vosper’s Woolston yard.
The Southampton-based defence group said that for the six months to the end of September, pre-tax profits increased 7% to £14.8m on turnover of £100.2m.
Orders rose to £653m, up a healthy £163m since March.
Vosper said: ‘The list of warship prospects at home and overseas is impressive. We have an excellent chance of winning new contracts.’
But there is still no sign of a promised £50m order for two patrol boats from Qatar because of oil price problems, a defence salesman in the region said. And a United Arab Emirates’ contract for ocean-capable patrol boats, expected to be awarded in spring, now looks less likely.