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QinetiQ’s Profits Tumble Despite Sales Increase

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Britain's QinetiQ on Wednesday posted six-month results that showed a sharp drop in net income due to a spike in amortization expenses and several non-recurring costs and the company warned that it won't meet its previous expectations for the year due to a slowdown in business in both the United Kingdom and the United States. The company said that "political and economic factors" in the United Kingdom are delaying contracts and that the change in the U.S. business slowed due…

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