QinetiQ, the defence research company that was spun off from the Ministry of Defence, is stepping up its presence in the civil and government security field, by accelerating a ventures fund set up to develop new technology solutions to terrorism.

One of the seven businesses injected into the fund, Tarsier, has recently installed a device to sweep Heathrow's two runways for hazards and is working at three other airports.

QinetiQ said today that it would step up the development of the business in its QinetiQ Ventures fund, set up with Coller Capital just over a year ago.

The defence company reported pre-tax profit growth up 41.3 per cent to £36.6 million in the six months to September 30, on revenue up 13.9 per cent to £727.4 million.

The company said that the result included organic growth of 8.6 per cent.

Graham Love, QinetiQ's chief executive, said the company had had a particularly strong performance in North America, where it achieved 19 per cent organic revenue growth.

"We remain well placed in areas expected to be key priorities of the new US administration and continued double digit growth in QNA into the medium term," Mr Love said.

He added that the company would dispose of certain non-core assets to allow it to reallocate capital into quality investments.

One of the stars of QinetiQ's portfolio has been its North American technology solutions business, which has shipped 2,500 Talon robots for use by British and American troops in Afghanistan and Iraq.

The division has seen organic growth of almost a quarter in the period, reflecting continued demand for Talon robots. The company on a $400 million contract with the US military to carry on supplying the robots during the period.

The family of robots is evolving and QinetiQ has shipped the first safety certified armed robotic land vehicle, known as MAARS (Modular Advanced Armed Robotic System) in the last six months. It has also developed a rugged, light, portable unit known as Dragon Runner, which can be used in urban environments and carried in a backpack into difficult terrain.

QinetiQ saw a 31.4 per cent increase in orders won in the period to £777.9 million. Its contracted and funded backlog is now a fifth bigger at £1.2 billion.

The company said it would increase the interim dividend by 12.8 per cent and looked forward to the remainder of the year with confidence, given its solid order backlog.

Times Recommends

• C&G axed - 1,660 jobs to be lost
• UK house prices rise 1.1% as buyers return
• Mixed reaction to US banks repaying bailouts