11th Oct 2023 10:10
Qinetiq Group PLC - Farnborough, Hampshire-based defence technology company - On track to deliver full-year expectations following a "strong second quarter" for the year ending March 31. Secures first half order intake of around GBP950 million, up 16% from GBP800 million a year ago. This increases revenue under contract for the full year to 90%. Looking ahead, Qinetiq is on track to deliver "another good year of good organic revenue growth," in line with its full-year forecasts and long-term guidance. Operating profit margin is expected to be at the lower end of the 11% to 12% range, while capital expenditure is expected to remain between GBP90 million and GBP120 million.
"I am extremely pleased that the group continues to perform well, delivering strong organic revenue growth at stable margins in the first half of the year, moderately ahead of expectations. Record first half order intake demonstrates that our distinctive offerings remain in high demand across all our home countries, as our people continue to deliver high-value services and products critical to national defence and security," says Chief Executive Officer Steve Wadey.
Current stock price: 327.20 pence, up 0.8%
12-month change: down 5.6%
By Sabrina Penty, Alliance News reporter
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