QinetiQ Posts 9% Drop In H1 Pretax Profit, Raises Dividend

QinetiQ Group PLC

reported a 9% drop in its first-half pretax profit and lifted its dividend. QinetiQ's pretax profit for the period fell to 72.6 million pounds ($115.72 million), from GBP80 million, in the year-ago period. Its revenue dropped 13% to GBP599.6 billion. Excluding one-time items, its adjusted pre-tax profit came in at GBP52.3 million. QinetiQ lifted its interim dividend to 1.4 pence versus 1.1 pence. QinetiQ shares closed at $12.52 yesterday.