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


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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.

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