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Qinetiq expects revenue boost after strong H1
StockMarketWire.com
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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 £74.2 million.
The company increased its full-year guidance, saying it now expected to deliver 'low double-digit revenue growth'.
Revenue for the six months to the end of September was up by 24% compared to the first half of the previous financial year, to reach £603.2 million.
The company highlighted a 37% increase in orders during the period, and a significant increase in its international revenues over the past five years.
Qinetiq chief executive Steve Wadey said: 'We are entering the second half with confidence, with a significant order backlog, strong customer focus and an evolved strategy reflecting the increasing ambition of the group and changing customer needs.
'We are increasing our full year guidance whilst proactively managing the potential risks from further Covid-19 disruption.'
At 8:13am: (LON:QQ.) Qinetiq Group PLC share price was +23.5p at 314.5p
Story provided by StockMarketWire.com
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