Less Ads, More Data, More Tools Register for FREE

Pin to quick picksQinetiq Share News (QQ.)

Share Price Information for Qinetiq (QQ.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 438.60
Bid: 436.80
Ask: 437.80
Change: -10.80 (-2.40%)
Spread: 1.00 (0.229%)
Open: 450.60
High: 450.60
Low: 434.20
Prev. Close: 449.40
QQ. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

QinetiQ makes senior appointments as finance chief departs

Tue, 16th Apr 2024 07:08

(Sharecast News) - QinetiQ Group reported a good operational performance in the final quarter of its financial year on Tuesday, in line with market expectations.

The FTSE 250 defence technology specialist said that with strong organic revenue growth and a stable operating profit margin, its order intake for the year ended 31 March topped £1.7bn, achieving a book-to-bill ratio of 1.1x amid sustained high demand for its offerings.

It said the £100m share buyback programme initiated in January had progressed well, with six million shares purchased to-date at a cost of £22m.

Throughout the fourth quarter, QinetiQ said it saw trends it had identified in its interim results and third-quarter trading update, with EMEA services showing robust revenue growth driven by successful programme execution and long-term contracts.

Conversely, global solutions experienced slower growth due to challenging market conditions in the United States, resulting in modest revenue growth for Avantus in the second half.

Despite market challenges, QinetiQ said global solutions secured significant contract awards totaling $977m during the year, with a funded book-to-bill ratio of 1.2x, ensuring revenue visibility for the 2025 period.

Looking ahead, QinetiQ said it anticipated another strong year of growth in 2025, with EMEA services expected to drive stronger growth, while global solutions would maintain stable performance.

"During the fourth quarter we have continued to deliver against our strategy and driven good revenue growth and stable operating profit margin," said chief executive officer Steve Wadey.

"We have had a particularly strong period in EMEA services, thanks to excellent contract delivery across our programmes, and we expect further strong growth in this segment."

Wadey said the performance of global solutions was impacted by ongoing market conditions in the US, but added that a strong order intake at Avantus provided the firm with confidence in its platform for future growth.

"With a clear focus on disciplined execution of our strategy, high demand for our distinctive offerings and the good progress we have made this year, we have a robust plan to deliver long-term sustainable growth and compelling value for our shareholders."

QinetiQ also announced a number of executive appointments on Tuesday, with Martin Cooper appointed as the new group chief financial officer, succeeding Carol Borg, effective immediately.

Cooper, bringing over 25 years of experience in senior finance roles, including positions at BAE Systems, was expected to join the QinetiQ board by October.

During the interim period, Heather Cashin, the current group financial controller, would serve as interim group CFO, with support from former group CFO David Smith.

Additionally, QinetiQ said it had appointed Iain Stevenson as the chief operating officer and Will Blamey as chief executive of UK defence.

Stevenson, previously deputy chief executive of AWE, would join in July, leveraging his extensive experience in leading large business divisions in defence and construction sectors.

Blamey, who had been with QinetiQ since June 2018, would assume the role of chief executive of UK defence, having played a vital role in major programme development and delivery at QinetiQ.

Both positions would report to group CEO Steve Wadey.

At 0843 BST, shares in QinetiQ were down 4.53% at 341.6p.

Reporting by Josh White for Sharecast.com.

More News
11 Jun 2024 09:57

LONDON BROKER RATINGS: Morgan Stanley cuts Anglo American

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:

Read more
24 May 2024 09:23

LONDON BROKER RATINGS: HSBC cuts Aviva; Deutsche Bank cuts Ryanair

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday:

Read more
23 May 2024 17:20

London stocks fall as political uncertainty, soft economic data weigh

FTSE 100, FTSE 250 dip 0.4% each

*

Read more
23 May 2024 17:18

LONDON MARKET CLOSE: FTSE 100 falls as focus stays on Westminster

(Alliance News) - Stock prices in London closed predominantly lower on Thursday, following robust US data, and as eyes remained on Westminster after Prime Minister Rishi Sunak called a general election on Wednesday.

Read more
23 May 2024 16:46

London close: Stocks slip on UK election, US jobless claims

(Sharecast News) - London stocks ended lower on Thursday, mirroring Wall Street's decline as jobless claims in the US fell more than anticipated.

Read more
23 May 2024 12:02

LONDON MARKET MIDDAY: Stocks tread water as UK manufacturing rebounds

(Alliance News) - Stocks in London were treading water at midday Thursday, amid news that the UK manufacturing sector returned to growth in May.

Read more
23 May 2024 10:27

Well positioned QinetiQ lifts guidance as highlights strong momentum

(Alliance News) - QinetiQ Group PLC on Thursday raised its financial outlook after delivering "strong" annual results in the face of "difficult market conditions in the US."

Read more
23 May 2024 10:02

Qinetiq upgrades full-year outlook, shares surge

(Sharecast News) - Defence technology firm Qinetiq surged on Thursday after lifting its full-year guidance as it reported a jump in underlying profit and revenue.

Read more
16 May 2024 15:45

UK earnings, trading statements calendar - next 7 days

Friday 17 May 
Land Securities Group PLCFull Year Results
XLMedia PLCFull Year Results
Monday 20 May 
Kainos Group PLCFull Year Results
Likewise Group PLCFull Year Results
Nexxen International LtdQ1 Results
Ryanair Holdings PLCFull Year Results
Union Jack Oil PLCFull Year Results
Tuesday 21 May 
Assura PLCFull Year Results
Atalaya Mining PLCQ1 Results
Avon Protection PLCHalf Year Results
Caledonia Investments PLCFull Year Results
Calnex Solutions PLCFull Year Results
Cranswick PLCFull Year Results
Diaceutics PLCFull Year Results
FD Technologies PLCFull Year Results
Greencore Group PLCHalf Year Results
Ixico PLCHalf Year Results
Kingfisher PLCTrading Statement
Pennon Group PLCFull Year Results
Smiths Group PLCTrading Statement
SSP Group PLCHalf Year Results
Topps Tiles PLCHalf Year Results
Wednesday 22 May 
4imprint Group PLCTrading Statement
British Land Co PLCFull Year Results
Close Brothers Group PLCTrading Statement
Hardide PLCHalf Year Results
HICL Infrastructure PLCFull Year Results
Marks & Spencer Group PLCFull Year Results
Regional REIT LtdTrading Statement
RS Group PLCFull Year Results
Severn Trent PLCFull Year Results
SSE PLCFull Year Results
STS Global Income & Growth Trust PLCFull Year Results
Thursday 23 May 
AJ Bell PLCHalf Year Results
Argo Blockchain PLCQ1 Results
Aviva PLCTrading Statement
Bloomsbury Publishing PLCFull Year Results
Braemar PLCFull Year Results
Energean PLCTrading Statement
Essentra PLCTrading Statement
Great Portland Estates PLCFull Year Results
Headlam PLCTrading Statement
Helical PLCFull Year Results
Hill & Smith PLCTrading Statement
International Distributions Services PLCFull Year Results
Investec PLC and LtdFull Year Results
Johnson Matthey PLCFull Year Results
National Grid PLCFull Year Results
Petershill Partners PLCTrading Statement
Picton Property Income LtdFull Year Results
Qinetiq Group PLCFull Year Results
Tate & Lyle PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
22 Apr 2024 10:45

BAE, QinetiQ could benefit from $95bn US aid package, says JPMorgan

(Sharecast News) - UK-listed defence peers BAE Systems and QinetiQ could both benefit from the recent passing of a $95.3bn US aid package to Ukraine, Israel and Indo-Pacific partners.

Read more
16 Apr 2024 16:26

Europe close: Markets fall as geopolitical tensions rise

(Sharecast News) - European markets were still in the red at the end of the day on Tuesday, tracking a global sell-off as investors mulled Israel's potential reaction to an Iranian missile attack over the weekend.

Read more
16 Apr 2024 09:02

LONDON MARKET OPEN: Global tensions, US rate worries weigh on shares

(Alliance News) - Stock prices in London opened lower on Tuesday, with nearly all of the FTSE 100 in the red, as investors fret over US interest rate worries and simmering global tensions.

Read more
16 Apr 2024 09:00

Qinetiq hires from BAE Systems as CFO exits suddenly; confirms outlook

(Alliance News) - Qinetiq Group PLC on Tuesday said its chief financial officer has departed immediately, but the defence and security technology firm reassured investors that its recent business results are in line with market expectations.

Read more
9 Apr 2024 16:53

LONDON MARKET CLOSE: Stocks struggle in nervy trade before US data

(Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.