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Qinetiq in the money

A string of profit warnings have torpedoed the UK's defence sector, but Qinetiq (QQ.) has bucked the trend. A two-year self-help programme repaired the balance sheet, cash conversion is impressive and profits have grown fast. Full-year targets look achievable, too, but after that Qinetiq could struggle like everybody else.

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By Lee Wild,
21 November 2012

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