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QinetiQ sees in line H1 performance, flags potential £15m hit from supply chain issues

Thu, 14th Oct 2021

Science and engineering company QinetiQ said half-year performance was in line with market consensus expectations as order intake improved, though flagged a potential £15 million hit to performance from supply chain issues. Order intake at £700 million was 25% higher than the first half of FY21. For the full year, we expect to deliver mid-single digit organic revenue growth at about 5% and underlying operating profit margin at the lower end of its 11-to-12% expected range. 'This expectation includes short-term effects of the customer's mission shifting from Afghanistan and COVID related delivery and supply chain challenges in the US,' the company said. 'We are working closely with our customer and are making progress, jointly with our supply chain, towards recovery of the programme and mitigating this risk to less than £15m,' it added. The company is set to report interim results on 11 November 2021. Story provided by StockMarketWire.com

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