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Hi Jack. The UK Press Core wouldn't be slow to produce headlines about UK Gov handing huge contracts to any business which is paying that cash out as dividends or enormous salaries. Give they guys a break.
We might get the delayed dividend in the form of a special divi or it may be spread over a period. Half term results are coming up soon. A wee bit of divi would be nice but not if it means that the business looses a contract.
Well £3.94 to £2.62, is quite a drop for an aspiring FTSE 100 stock.
We will have to see what impact COVID has had on the business, but it does not give confidence that the Directors drop their salaries and the Dividend is delayed. Confidence to the Market = zero rather than confidently driving on the existing strategy.
I think the action taken at the start of COVID pandered to the "Civil Service mindset", and we will not see the full impact until H1 results come out.
In the meantime, we are adding on weakness.
Read the article and they are all excited about this demonstration, well done qinetiq.
Well just found this on an obscure site and it seems to have been well overlooked by British Investors/traders.
QinetiQ QQ. Defensive .......... science and engineering company operating in the defense, security and aerospace markets.
Now just look at this............
Major Ben (name withheld for security reasons), a British Army pilot working with Dstl said:
'We've been following QinetiQ's progress as it prepared the system and seeing it in action, we believe this could be a game-changer for us. The ability to use a manned/unmanned with any manned helicopter in the UK fleet has huge potential. We can't wait to get our hands on the system and put it through its paces during AWE19'. if thats not a game changer I dont know what is.
Ive bought in immediately trades on a forward P/E of just over 16. A game changer in defence and Military. SP is down today which offers you a chance to get in on the cheap.......a real steal imo.
Charts not up to much now but watch this one go.
That is a big deal, this could pass its 52 week high.
Confusing why this isn't £4+?
Great deal in us defence
annual financial results out. looks good. share price up
A nice deep dive into Qinetiq as a Defensive Stock: https://www.youtube.com/watch?v=QIl0wt7rVt8
They are overall in my opinion a solid defensive stock with little debt and a good management team. Their are some significant risks including Joe Biden getting elected in the US elections in November and government austerity effecting MOD budgets, but the medium and long term potential for Qinetiq seem very impressive. The share price seems very sensible compared against their increased revenues, assets and equity profile over the same period. Net income is narrowing and thats a critical indicator for the future.
IC says BUY
Disruption from Covid-19 has been limited and weighted towards the shorter-cycle products division. Looking ahead, global defence spending could come under pressure as countries prioritise investment elsewhere. Yet the same geopolitical threats will exist post-pandemic, perhaps even more so given rising US-China tensions. QinetiQ believes budget constraints could shift defence procurement to the more mission-led projects it serves. As the group increases exposure to international defence markets, in particular the US, the outlook remains promising.
“Getting ready to be milked”
Well COVID-19 has dropped us 25% but I can’t help think that this would be an excellent recovery play once COVID-19 panic is sorted.
Unlike other shares that have dropped a similar %,if not more, QQ are riding into their year end off the back of Q3 results. That means that this year is nailed on.
I also think QQ have a top quartile %age of orders already won for FY20/21. Yes delivery maybe slower against these orders but it’s good to know we are not scratching around trying to win new business against the current Market pause/drop back.
LTHs with no near term cash requirements should sit on their hands or update at these levels based on long term performance
Agreed, moving on up, up, up keep it moving. but can't help but feel the cash cow is ready to be milked.......
"Smiles all around"
That's good news !! QQ must be pleased with current performance. Continuing on the present trajectory is fine with me.
I work for QQ smiles all around!
state-of-the-art cleanroom facilities in “Belgium”
I would have though someone, somewhere, would start to join the discussion here!
Pity as QQ appear to be flying to another level ATM.
Picked up my Divi today, and more than happy with long term performance.
I expect more to follow as we get nearer to FTSE 100 territory.
After previous cost restructure and QQ’s Share Buy Backs, we are well and truly into the momentum stage by aligning QQ to deliver against Customers’ needs driving added value
Dividend payment on Friday 07th Feb :)
• Maintain expectations for full year operating profit with high single digit revenue growth. EMEA Services and Global Products divisions delivering organic order and revenue growth
• Achieved the 3rd major milestone of the renegotiated Long Term Partnering Agreement (LTPA) contract on schedule, demonstrating that we are meeting our UK MOD customers' requirements and successfully transitioning to the new ways of working.
• Expanded the scope of the LTPA to include a Rapid Innovation Cell in the field of Counter-small Unmanned Air Systems (UAS) and we have successfully delivered new facilities at UK MOD Shoeburyness to assess missile safety and suitability to service, both critical to future warfare.
• The transformed Empire Test Pilots' School (ETPS) successfully delivered the first year of its innovative syllabus using a new civil-registered fleet of aircraft. ETPS is seeing growing demand for its modern approach to test aircrew training from UK and international customers.
• Completed acquisition of Manufacturing Techniques Inc. (MTEQ) in Dec 19. MTEQ is a leading US provider of advanced sensing solutions with a strong reputation for mission-led innovation, rapidly developing and fielding operationally relevant solutions to deliver information advantage to the warfighter. QQ's new US business unit, created through the combination of QQ North America (QNA) and MTEQ, represents 25% of the Group and delivers a number of strategic benefits including strengthening our innovation strategy and accelerating our growth in the US, the world's largest defence market.
• In January, the US Army announced its intention to award the Robotic Combat Vehicle Light (RCV-L) program (https://www.namconsortium.org/sites/default/files/RCV-OTA-Award-Final.pdf) to QQ. This provides an immediate opportunity to demonstrate the value of our new US business, by leveraging our advanced robotics and sensing technology to create a solution that enables the US warfighter to overcome the next generation of threats, increase force projection, and reduce cognitive burden.
• Today, we acquired Newman & Spurr Consultancy Limited (NSC) on a cash-free, debt-free basis for £14m. NSC represents another strategy-led acquisition, enhancing our capability in areas such as modelling and simulation, synthetic environments and operational analysis. Acquisition supports global training and mission rehearsal campaign driving future sustainable growth.
• In Jan 20, our Space business secured a €75m new contract with the European Space Agency (ESA) to extend Europe's capabilities in operational Earth Observation. QQ will lead a consortium of companies to build the ALTIUS satellite, with final assembly at our state-of-the-art cleanroom facilities in
Good to see Govt. not blocking this. Where there is a will, there is a way!!
At this rate we will be knocking on the FTSE 100 door.
Government gives green light to £4bn takeover of defence giant Cobham
Defence and aerospace group Cobham has seen its shares surge this year amid the takeover deal
The government has signed off a £4bn takeover of UK defence company Cobham by US private equity firm Advent International.
A merger between the companies was agreed to in July, but the acquisition was delayed on the orders of Business Secretary Andrea Leadsom so that the government could address national security concerns raised by the takeover.
Advent is said to have proposed a number of legal undertakings aimed at mitigating any potential national security worries.
They include the ongoing protection of sensitive government information and requiring prior notice to the Ministry of Defence and Home Office on any future plans to sell the Cobham business.
Mrs Leadsom, who led the government consultation process, said she was confident that the merger would not compromise national security, adding the decision had been "meticulously thought over".
She said: "Having considered the consultation responses and further advice from the defence secretary, I am satisfied that the undertakings mitigate the national security risks identified to an acceptable level and have therefore accepted them and cleared the merger to proceed.
"While trade and investment play an important part in the UK economy, when intervening in mergers on national security grounds, I will not hesitate to use my powers to protect national security, if it is appropriate to do so.
"Separately, the companies have given a legally binding commitment that there will be significant protection of jobs and have also agreed with the takeover panel that Cobham's headquarters will remain in the UK, that the Cobham name will continue to be used and that there will be a guaranteed level of R&D spend. This will secure the future of Cobham and the important role it plays in our world-leading defence sector and economy."
Cobham employs around 10,000 people, including 1,700 in the UK, and is a major player in the field of air-to-air refuelling
I think QQ have set themselves up to be Customer Focused and driving value for money.
As you say, this plays into the hands of the current political arena. Some good half a million buys on Friday suggest others think likewise
I agree. I expect a flurry of buys in anticipation of defence investment announcements in the new political session.
UBS have their head in the sand.
QQ are throwing off good cash flow. £3.1Bn of funded Order Backlog. 96% of FY 20 Revenues are already locked in. Progressive dividend policy.
I think you are right to stay put as I expect the next two years to be very rewarding
pleasant surprise today .UBS have had QQ. as a sell for months....glad i'm still in
Yep, great results.
Some say the internal goal is to transition into the FTSE 100. Long way to go, but if the desire is there then watch this space
Defence technology company QinetiQ said interim underlying operating profit rose 16% to £59.7m as it reported a "good performance" across the business.
Revenue was £486.5m, up 10% on an organic basis, driven by new work from a battlefield tactical communications information systems contract, the company said on Thursday.
Stautory pre-tax profits rose to £59.3m from £52.7m a year earlier.
Global Products revenue was up 14% organically, principally driven by sales of target systems, it added.
Underlying earnings per share for the group were 9.2p, up from 8.1p a year earlier, with the increase primarily due to strong trading and top line revenue growth.
Statutory basic earnings per share for the total group were up to 11p from 8.9p with the current period enhanced by a £13.3m gain on disposal of surplus property.
Qinetiq last month said it had bought Manufacturing Techniques (MTEQ) on a cash-free, debt-free basis for $105m. The transaction is subject to US government approval and is expected to close towards the end of the 2020 fiscal year.
Chief executive Steve Wadey said the company was maintaining expectations for full year operating profit with "high single digit revenue growth".
"Our focus for the remainder of the year is to win further campaigns globally, successfully deliver key programmes, and complete the acquisition of MTEQ to transform the scale of our US operations as we build an integrated, global defence and security company."
Good results today.
Great to see QQ bolstering the US operation, the largest defence market in the world, with the acquisition of MTEQ.
With the cash QQ are throwing off from existing operations, it's good to see some of this being put toward a strategic US acquisition with solid growth history & potential.
Punching through SP £3+ is still eluding us, but at least reinvesting the Dividends is good for Long Term Shareholder return.
2 October 2019. QinetiQ announces that it has entered into an agreement to acquire Manufacturing Techniques Inc. (MTEQ) on a cash-free, debt-free basis for $105 million to be paid in cash on completion and an earn-out of up to $20 million payable in cash and shares dependent on delivering stretching financial targets over three years.
MTEQ is a leading US provider of advanced sensing solutions with a strong reputation for mission-led innovation, rapidly developing and fielding operationally relevant solutions to deliver information advantage to the warfighter. In the 12 months to 31 August 2019, MTEQ generated $167.4 million of revenue, $11.4 million of EBITDA, and $11.0m of EBITA on an unaudited basis.
That a Non Exec, picks up 50,000 shares @ 293 for £146.6k
We are also buyers at this extraordinary price!
Defence technology company Qinetiq posted better-than-expected full-year results on Thursday as it backed its expectations for 2020.
In the year to the end of March 2019, underlying pre-tax profit increased 2% to £124.0m on revenue of £911.1m, up from £833m the year before, with orders 32% higher. Analysts had been expecting profit of £115.1m and revenue of £877.5m.
The full-year dividend per share was lifted to 6.6p from 6.3p a year earlier.
During the period, the company secured a £1.3bn amendment to a long-term partnering agreement (LTPA) with the UK Ministry of Defence, won five competitive long-term programmes and completed one acquisition and one strategic investment to grow its training offering.
Chief executive officer Steve Wadey said: "This has been an excellent year with strong operational performance. By improving our customer focus and competitiveness, we have delivered a third successive year of revenue growth, increased our international revenue share from 21% to 30% over the last three years, offset the UK single source profit headwind and delivered organic profit growth.
"Securing the LTPA amendment and winning five major competitive, long-term programmes demonstrates that our strategy is working, providing a platform for sustainable profitable growth."
For FY20, the group maintained its expectations, excluding non-recurring trading items, "with revenue growth at stable margins resulting in continued operating profit progression".
At 0940 BST, the shares were up 3.8% at 308.20p.