UK defence group Qinetiq said it still expected to deliver organic annual revenue growth of 3% and an operating margin of around 11% despite near-term spending uncertainty.
Source: Sharecast
The company also maintained earnings per share guidance of 15 – 20%.
“With an order backlog of around £5bn and a qualified pipeline of £11bn we have significant long-term visibility. Combined with our strong cash flow this allows for both investment in the business and compelling shareholder returns," the company said in a trading update on Tuesday.
Orders for the year to date were now more than £3bn, with an order backlog of around £5bn and a longer-term pipeline of £11bn.
"Recent awards include the £205m five-year extension to deliver mission critical engineering services for Typhoon, ensuring the operational readiness of our armed forces, and contracts worth £87m for our laser technology to enable future warfare,” Qinetiq added.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
