Delayed orders see Qinetiq shares drop

DEFENCE technology firm Qinetiq saw shares plunge yesterday as delayed orders on both sides of the Atlantic forced a second profit warning in two months. The company had already warned that "short-term uncertainties" over defence contracts meant results were unlikely to meet City hopes.

The firm said that conditions had "not improved", despite US president Barack Obama's decisions on Afghanistan.

The firm warned that results for its second half would now be on a par with the first six months of the year due to the delays.