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