31st Jan 2019 09:28
LONDON (Alliance News) - QinetiQ Group PLC on Thursday said it has continued to do well, and it is on track to meet expectations for its current financial year.
The defence technology firm said the Europe, Middle East, & Africa Services division delivered "encouraging" organic order and revenue growth in the third quarter ended December.
Revenue under contract and operating profit, QinetiQ said, met expectations.
The company is making good progress on talks over its long-term partnership with the UK Ministry of Defence. QinetiQ hopes to secure pricing up to 2028 and a similar level of investment to the 2016 agreement.
QinetiQ Global Products likewise achieved "positive" organic order and revenue growth year-on-year, with underlying operating profit also improving. North America in particular did well, the company added.
QinetiQ will report its results for its year ending March 2019 on May 23. Shares were 3.4% higher on Thursday morning at 304.00 pence each.
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