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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 Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
- 2 James Blunt was special guest on the highest-rating Top Gear episode ever
- 3 People all over the world are getting semicolon tattoos to draw attention to mental health
- 4 Van driver who comforted Clark Carlisle and called 999 after suicide attempt dies age 24
- 5 Baby rescued 1km out to sea after parents forgot about her