QinetiQ lifts annual guidance on strong order growth

British defence group Qinetiq on Monday lifted annual guidance and said profits would come at the upper end of expectations driven by order growth across its major markets.

The company now expects underlying operating profit of at least £175m, higher than the £166m consensus forecasts.

Qinetiq said full year order intake was up by 40% at a record-high of more than £1.7bn.

“Subject to audit, we expect to deliver high-teens percentage total revenue growth at stable margins … including the benefit of the Avantus and Air Affairs acquisitions.”

Reporting by Frank Prenesti for Sharecast.com