Defence firm QinetiQ looks to next stage of growth as FY revenue falls
24th May 2012
DEFENCE supplier QinetiQ, which maintains a base in Malvern despite cutbacks, said today the culmination of its two-year self-help programme had provided a solid platform from which to launch the next phase of its restructuring.The group has been prompted to revise its business model following the austerity measures imposed by both the Ministry of Defence and the US Defence Department.In a full-year results statement, the company said revenue for the period was down 11% to £1,469.6m (2011: £1,702.6m) on an organic basis......for the full story register now for free or login below...
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