QinetiQ gains following H1 results

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QinetiQ gains following H1 results
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The share price of FTSE 250 defence technology firm QinetiQ (LON:QQ.) has climbed by 5.78% to 340.60p (as of 12:30 GMT) after revenues for the six months ended 30th September rose by 16%. Post-tax profits were up by 24.1%, but this was in part due to a substantial non-recurring trading item.

Group CEO Steve Wadey commented: “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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