11th Feb 2015 07:48
LONDON (Alliance News) - QinetiQ Group PLC on Wednesday affirmed its guidance for the full-year, despite continued challenges in its markets.
The FTSE 250-listed defence services company said its Europe, Middle East and Africa services arm is performing well and has a high level of contracted revenue for the final quarter of its financial year to the end of March, despite of uncertainty in the UK defence market related to current spending overhauls at the Ministry of Defence.
But it said the performance of its Global Products business is still being impacted by reduced funding for US military operations, which has reduced demand for conflict-related products.
QinetiQ said its expectations for the year are unchanged, as it expects a continued solid performance in its EMEA Services business but further issues in the Global Products arm.
By Sam Unsted; [email protected]; @SamUAtAlliance
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