FTSE 250 defence manufacturer QinetiQ (LON:QQ.) saw its share price climb by 3.57% to 278.40p (as of 16:00 BST) after reporting a strong second-quarter performance. Management said that order intake had been solid and the company was close to achieving its original targets despite COVID. The group has announced that it will reinstate its dividend and the board expects full-year orders to be ahead of the previous period.
CEO Steve Wadey commented: “The business remains robust with encouraging new orders and a significant order backlog, good liquidity and a strong balance sheet. We acted quickly to protect our employees, our customers and our company and I am pleased that these proactive actions are working effectively. We have delivered a good first half performance and, as a result, we are able to reinstate guidance and confirm payment of the previously deferred dividend.
“Looking further ahead, we continue to make good progress in building an integrated global defence and security company. I would like to take this opportunity to thank all of our employees for their ongoing dedication and hard work throughout this unprecedented period of uncertainty“.