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QinetiQ upgrades guidance amid robust defence orders

The defence technology group saw its new order increase by over a third in the six months to 30 September
QinetiQ upgrades guidance amid robust defence orders
  • The defence contractor now expects “low-double-digit” revenue growth this year, up from previous guidance of “high-single-digit” growth
  • QinetiQ has been boosted by last year’s acquisition of advanced sensor maker Manufacturing Techniques and training simulation specialist Newman & Spurr Consultancy
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Defence companies that are unencumbered by exposure to civil aerospace have proved relatively resilient to the Covid-19 crisis, benefiting from the stability of long-term government contracts and the critical nature of their work. Results from defence contractor QinetiQ (QQ.) amply demonstrate the point. Its revenue for the six months to 30 September jumped by almost a quarter year on year to £603m. This was partly down to organic growth, but also reflects the acquisitions of advanced sensor maker Manufacturing Techniques (MTEQ) and training simulation specialist Newman & Spurr Consultancy (NSC) last year.

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