Image: National Museum of the US Navy [Public Domain], via Flickr
The Defence Science and Technology Laboratory has said that a significant drop in its funding is a “medium risk” for the agency.
In the DSTL’s 2016-17 annual report and accounts, published on 23 June, chief executive Jonathan Lyle said that it had been a “challenging year financially” for the agency.
While net income increased from £337.4 million in 2016 to £348m in 2017, the agency’s costs also went up, leaving it with a loss of £37.2m for the 2017 financial year—compared to a profit of £17.3m in 2016.
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