The Harland and Wolff Group which among its shipyards includes the famous Belfast yard, recently announced that it has slashed expected revenues for 2022.

The shipyard group which has four yards on both sides of the Irish Sea, said supply chain problems have delayed work on some contracts.

According to BBC News, the group now expects to book full year revenues of between £29m and £31m when compared to September's forecast which was in the region of £65m-£75m.

John Wood, the chief executive said it was "disappointing that we have not met our aspirations due to timing issues". Wood however added that he was confident that deferred revenue would start getting booked in the first half of 2023.

Aside the iconic Belfast shipyard located on Queen's Island, H&W operates yards in Appledore, the north Devon shipyard (builder for the Irish Naval Service) and two sites in Scotland, Arnish on the Isle of Lewis and Methil on the Firth of Forth.

More on the story here and developments including the UK MoD naval contract.