22nd Jul 2015 07:00
LONDON (Alliance News) - FTSE 250-listed defence services company QinetiQ Group PLC on Wednesday said trading in the first quarter of its financial year was in line with its expectations, and it reaffirmed its guidance for the full-year.
QinetiQ said trading in its EMEA Services division was solid in the half, though it has seen some contract award decisions deferred due to the ongoing Strategic Defence and Security Review in the UK, a review of UK government defence spending. It said, however, that its contracted revenue is in line so far this year.
Global Products traded broadly flat year-on-year in the quarter and the group is in the process of repositioning its US business in response to the continued challenging market conditions in the region.
By Sam Unsted; [email protected]; @SamUAtAlliance
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