20th May 2021 14:39
(Alliance News) - QinetiQ Group PLC on Thursday said revenue was up for a fifth straight year, driven by its largest annual order intake in a decade.
The FTSE 250-listed defence technology firm posted revenue for the year to March 31 of GBP1.28 billion, up 20% from GBP1.07 billion the year prior. The rise was QinetiQ's fifth straight year of top-line growth, with revenue up by around 70% in the last 5 years.
Order numbers also saw a significant improvement, up 18%, the largest annual order intake in a decade. Pretax profit hit GBP146.2 million, 19% higher than GBP123.1 million the previous year.
"Throughout this challenging year, QinetiQ has proven its commitment and focus to deliver critical defence and security capabilities for our customers around the world," commented Chief Executive Steve Wadey.
Looking ahead, QinetiQ is targeting mid-single digit organic revenue growth and operating profit margin between 11% and 12%. The long term ambition of the firm is to achieve mid-single digit percentage compound organic revenue growth over the next five years, helped by strategic acquisitions.The US and Australia were outlined as particular target areas for growth.
QinetiQ proposed a final dividend of 4.7 pence, making the full year payout 6.9p, up from 6.6p the previous year.
Shares in QinetiQ were trading 1.1% higher at 329.80p each on Thursday afternoon in London.
By Will Paige; [email protected]
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