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Qinetiq Group PLC on Thursday reported its first quarter went in line with expectations and it looked ahead to a key industry event next week, when it will showcase a ‘new laser source technology subsystem’. In an annual general meeting update, the defence technology company said trading in the first quarter to June 30 ‘was consistent with full-year expectations’. ‘The group continues to benefit from strong revenue visibility, underpinned by a record opening order backlog,’ it said. For the full-year, it expects growth of 3% to 5% and an underlying operating profit margin of 11.0% to 11.5%. It targets an 8% to 10% rise in earnings per share. Revenue in financial 2026 amounted to £1.92 billion and it achieved a basic EPS of 20.1 pence, or 31.5p on an underlying basis. The underlying operating margin was 11.3%. Qinetiq expects the first half to represent some 46% of annual revenue. Last month, the UK government set out the defence investment plan, which Qinetiq believes ‘places a clear emphasis’ on areas the firm is directly exposed to. In addition, the firm said it ‘continues to actively review all options for the US business’. The company had said in May: ‘The US business is now a smaller, better business, aligned to market demand with current annual revenue approximately $385 million. However, we recognise the need to deliver enhanced value for shareholders and are actively assessing the strategic fit of the US business within the group, including a review of all options.’ The annual Farnborough International Airshow trade exhibition takes place next week, a short trip from where Qinetiq is based. ‘Qinetiq will exhibit at the Farnborough International Airshow from 20-24 July, where it will feature its new laser source technology subsystem, supporting the group’s growth strategy in laser directed energy weapons. The group will also host meetings with analysts and investors during the event,’ the firm said. Shares in the company fell 1.9% to 442.20 pence in London on Thursday morning. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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