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QinetiQ reports strong performance despite Coronavirus pressures
StockMarketWire.com
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QinetiQ Group has reported a 19% increase in revenue for the year ended 31 March, and a 14% rise in its underlying pre-tax profit, despite the pressures on Covid-19.
Orders were up 18% during the period, and the company said it has approximately £800 million in revenue under contract for FY22.
Steve Wadey, group chief executive officer, said: 'Throughout this challenging year, QinetiQ has proven its commitment and focus to deliver critical defence and security capabilities for our customers around the world. With the health, safety and wellbeing of our employees at the centre of our decision-making, we have delivered a very strong set of operational and financial results, exceeding market expectations. We have delivered a fifth consecutive year of top-line growth, growing revenue by c.70% in the last five years.
'With an evolved strategy, strong momentum and increased ambition shaped around the changing market dynamics and needs of our customers, I am excited about this next phase of sustainable global growth, to deliver our medium to long-term targets.'
Story provided by StockMarketWire.com
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