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Qinetiq Group PLC - Hampshire, England-based science & engineering company operating primarily in the defence and security markets - Says it is on track to deliver in line with expectations for financial 2023. Continues to deliver good operational performance in the third quarter ended on December 31. It has recently delivered four additional RCV-L prototype vehicles to the US Army for expanded testing. Qinetiq has also won a 10-year contract with the UK Ministry and Defence, worth £80 million for mission data services.
‘Order intake has continued to remain strong, with orders and revenue year-to-date now at more than £1 billion,’ it adds. Says profit and cash performance are in line with expectations.
In November, it had posted a 12% revenue rise to £673.4 million for the six months that ended on September 30 from £600.1 million the year before. Pretax profit surged to £104.5 million from £42.4 million.
Current stock price: 349.40 pence each, up 1.5% on Wednesday morning in London
12-month change: up 21%
By Xindi Wei, Alliance News reporter
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