QinetiQ sticks to annual guidance amid 'strong' third-quarter performance

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Defence technology company QinetiQ stuck to its annual guidance while touting a 'strong' performance in the third quarter of its financial year.

'While we remain cautious and alert to the changing Covid-19 environment, we are on-track for our fifth consecutive year of organic growth,' the company said.

'We continue to maintain our expectations for the full year, as outlined at our interim results in November 2020.'

QinetiQ said the Covid-19 pandemic was having a very limited impact on its EMEA services division, which was expected to post 'good' annual organic revenue growth.

The global products unit had continued to show top-line growth in the third quarter, driven by the advanced sensing solutions business, following disruption due to Covid-19 in the first half.

The targets business, meanwhile, was showing positive signs of recovery in the second half with some key orders being won, QinetiQ said.


Related content

QinetiQ upgrades annual earnings guidance

Defence equipment supplier QinetiQ upgrading its annual guidance, citing stronger orders and margins in the fourth quarter.

QinetiQ said it now expected to post an...

Wed, 14/04/2021 - 07:18


QinetiQ wins £127m Typhoon contract from UK Ministry of Defence

Science and engineering group QinetiQ said it had won a five-year £127 million contract from the UK Ministry of Defence to provide engineering services for...

Mon, 04/01/2021 - 07:29


Profit taking hits FTSE 100, advertising recovery for ITV

“A bout of profit taking was probably inevitable after the blow-out rally sparked by positive news on covid-19 vaccines delivered this week and a busy...

Thu, 12/11/2020 - 10:56


Qinetiq expects revenue boost after strong H1

Defence technology company Qinetiq boosted its profit after tax by 19% in the first half of its financial year compared to the previous year, to...

Thu, 12/11/2020 - 08:13


QinetiQ reinstates dividend; predicts 'modest' annual earnings beat

Defence technology company QinetiQ reinstated its dividend, while guiding for a full-year earnings performance 'modestly ahead' of current market expectations.

QinetiQ said the average analysts'...

Wed, 30/09/2020 - 07:13