Qinetiq maintains FY guidance; Buys training unit

Defence technology company Qinetiq maintained full-year operating profit guidance on Tuesday and said it had bought a training provider for £14m.

Qinetiq also noted that it expects to report high single-digit revenue growth for the year as a whole, thanks to higher income at both its EMEA Services division and its Global Products unit.

The FTSE 250-listed firm highlighted that its strategy of building an integrated global defence and security company to deliver sustainable growth had continued to gain momentum throughout the period.

"In the third quarter, we have achieved a number of milestones that demonstrate we are delivering on our commitments to customers and pursuing further strategy-led investments to drive organic opportunities and complementary acquisitions," said Qinetiq.

Separately, Qinetiq revealed it had acquired training provider Newman & Spurr Consultancy for £14m on a cash-free, debt-free basis.

Qinetiq said NSC represented "another strategy-led acquisition", enhancing the group's capability in areas such as modelling and simulation, synthetic environments and operational analysis.

As of 0845 GMT, Qinetiq shares were up 3.31% at 368p.