Qinetiq maintains full year guidance after strong Q3
Defence technology company Qinetiq has maintained full-year annual guidance after a “strong” third quarter.
The company on Wednesday said the Covid-19 pandemic was having a very limited impact on its EMEA services division, which was expected to post good annual organic revenue growth.
Its global products unit continued to show top-line growth in the third quarter, driven by the advanced sensing solutions business, following disruption due to the pandemic in the first half, while the targets business was showing positive signs of recovery in the second half with some key orders being won, QinetiQ said.
“While we remain cautious and alert to the changing Covid-19 environment, we are on-track for our fifth consecutive year of organic growth,” the company said in a trading statement.
The company earlier this month won a £127m contract from the UK Ministry of Defence to provide engineering services for the Typhoon combat aircraft.