QinetiQ Group profits up 16%


QinetiQ Group has announced a 16% rise in underlying operating profit in the six months to the end of September.

The half year report also showed a similar growth in revenue, the majority of which was on an organic basis.

The underlying earnings per share rose 14% during the period, while the interim dividend stands at 2.2p - one third of FY19 full year dividend.

Steve Wadey, group CEO, said: "Our strategy to drive value for our customers and shareholders continues to gather momentum. We delivered a strong first half result, with organic growth in orders, revenue and profit driven by a good performance across our businesses, both in the UK and internationally. We are maintaining expectations for full year operating profit with high single digit revenue growth.

"Our focus for the remainder of the year is to win further campaigns globally, successfully deliver key programmes, and complete the acquisition of MTEQ to transform the scale of our US operations as we build an integrated, global defence and security company."

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