Qinetiq has posted a 9.7% increase in turnover to £872 million ($1.54 billion) in 2004, compared with the previous year. Chief executive Sir John Chisholm says the results “are testimony to the success of our strategy to focus on defence and security markets, especially in the USA, which represents our greatest opportunity for expansion:”. Two US acquisitions created a “step change increase in business from North American customers”, Qinetiq says. Operating profit rose 33% to £69.6 million.

Source: Flight International