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The Business Matrix: Friday 22 November 2013
US budget trouble weakens QinetiQ
Half-yearly profits fell to £59.2m at QinetiQ as the defence and security group was damaged by continuing government budget uncertainties in the US and relative international peace. Last year it made more than £95m.
Orders in QinetiQ’s US services division fell 12.6 per cent to £247.7m, and the chief executive, Leo Quinn, has hinted at a likely sale as advisers look to conduct a “market testing exercise”.
Crossrail knocks Foyles off track
Profits at Foyles bookshop chain have been hit by continued disruption caused by the Crossrail building works near its main store on London’s Charing Cross Road.
Turnover at the group, which has five London stores and one in Bristol, fell 2.5 per cent to £22.9m in the year to June, with profits nearly halving to £83,000.
Last year’s Olympic Games also hurt the store’s trade.
- 1 Rules on 5p plastic bags likely to lead to arguments at the check-out
- 2 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
- 3 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
- 4 News agency criticised for describing Amal Clooney as 'actor's wife' in coverage of human rights trial
- 5 David De Gea to Real Madrid: Real finally get their man with £29m bid for Manchester United goalkeeper