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Gunning for record.

PRIVATISED defence research firm Qinetiq yesterday posted forecast-beating profits in its second year as a listed company.

The 16% rise in underlying pre-tax profits to pounds 109m in the year to March 31 came in ahead of the pounds 102.5m expected by the City.

Today's results were helped by strong growth in the US and an overhaul of its UK focused Europe, Middle East and Africa division.

The results covered a year in which management drew fire from the National Audit Office for "excessive" windfalls when the business was floated in 2006.
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Title Annotation:Business
Publication:Daily Post (Liverpool, England)
Date:May 29, 2008
Words:93
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