November 28, 2007 (LPAC)--Her Majesty's Dogs of War, the "private military company" called Armor Group announced a profit warning because of losses do to the fallout over the Blackwater scandal in Iraq. Armor Group is the former Defence System's Limited, founded in Britain by veterans of the Queen's own Scots Guards regiment in the 1980s and then sold to the Florida based Armor Holdings, which produced security related hardware and was recently taken over by BAE Systems.

The British Armor Group is no longer part of the Florida company, but is based in London in an office at Buckingham Gate, a few steps from the Queen's Buckingham Palace.

Armor Group's chairman, Sir Malcom Rikfind, has announced a profit warning and the firing of its chief executive David Seaton. Its stock price collapsed by 37%. Rifkind, who is a potential suspect in the ongoing BAE bribary scandal by virtue of the fact that he was the former Tory defense minister during the time the deals were being made, announced that the Blackwater scandal has hurt their business significantly. Also, he said that the need to comply with U.S. "human resource" issues in its contract with the U.S. in Afghanistan will hit profits.

Defense Systems Ltd (DSL) was featured in the 1997 EIR Special Report, "The true story behind the fall of the House of Windsor", as one of the key firms of "Her Majesty's Dogs of War" private military companies. Several months after EIR published its report, DSL was thrown out of Angola, after being accused of financial crimes.