Qinetiq says trading in line; no changes to FY expectations

Defence contractor Qinetiq said first quarter trading was in line with expectations and it expected no changes to full year forecasts.

In a pre-annual meeting trading statement, the military technology company said its EMEA Services division continued to deliver against the firm's growth strategy, increasing both revenue and orders organically against the same period last year.

“Revenue under contract is in line with our expectations for this point of the year.

We continue to pursue business winning campaigns based on major government-funded programmes and made good strategic progress in the period including a number of contract awards from the UK Ministry of Defence,” the company said.