THE DAILY BRIEFING

MILITARY MIGHT Defence giant Qinetiq has hiked its dividend by 5pc as it announced a boost in profits. Bosses said the company, which tests and develops military and space equipment, was ‘particularly relevant’ during a year of growing threats to global security. BID BLOCK Activist investor Gatemore Capital has upped its stake in DX as it prepares to block the mail delivery firm’s takeover of the distribution arm of Menzies. The investor, which has been vocal in its criticism of the deal, raised its stake from 11.3pc to 21pc. STORE DELIVERY Cornershops signing up to a service that allows shoppers to get goods bought online delivered to their local store rather than home has boosted Paypoint, which saw revenues climb 36pc to £39m in the year to March 31. STEP DOWN Marwan Chedid, a board member at oil firm Petrofac, has resigned after he was suspended amid a corruption probe. WELL DONE Greetings card retailer Card Factory revealed in a trading statement ahead of its AGM that it was on track to open a further 50 stores over the year. PET POWER Sales at Pets A t Home grew 7.2pc to £834m in the year to March, pulled up by soaring revenues in its veterinary arm which jumped by a quarter to £47m. ITALIAN DREAM Asian-themed chain Wagamama is opening its first restaurant in Italy, in partnership with W Italia Srl. GOING UP Newly listed oil firm Ades International Holding says revenues soared in the first quarter of the year to £36m, up from £21m during the same period last year. WASTE NOT The fall in the pound has helped profits soar 22pc to £25.7m at European waste management company Renewi. NORTH SEA Oil and gas production firm Enquest said its Kraken development in the North Sea is on track to produce its first oil before the end of June. The company expects to produce 45,000-51,000 barrels of oil per day on average this year. AIR SERVICE Shares in aviation services company Gama Aviation nudged up yesterday after it confirmed that trading remained in line with expectations. It said its US Air division had performed strongly and its EU arm remains on track to deliver modest growth.