QinetiQ warns on profit target

DEFENCE technology company&nbsp; QinetiQ yesterday said it was unlikely to meet full-year profit forecasts profit due to slower order uptake in Britain and the United States.<br /><br />QinetiQ , whose biggest customer is the Ministry of Defence, was reporting a two per cent fall in pre-tax profit to &pound;45.1m on revenues 11 per cent higher at &pound;806m in the six months to end-September.<br /><br />&ldquo;We&rsquo;re unlikely to meet previous full-year expectations and there are a range of possible outcomes for the year,&rdquo; said finance director David Mellors.