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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 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- 5 Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''