LONDON (dpa-AFX) - QinetiQ Group plc (QQ.L), on Wednesday, said it expects fiscal 2021 results to be above the company's previous guidance and above market consensus expectations.
The company expects to deliver high teens percentage revenue growth, high single digit percentage revenue growth on an organic basis for the full year. Also, QinetiQ expects the full year underlying operating profit margin percentage to be modestly ahead of that delivered in the first half, resulting in underlying operating profit for the full year of at least £147 million.
Further, the company noted that it retained its medium to long-term guidance. It expects mid-single digit percentage compound annual organic revenue growth over the next 5 years, with strategic acquisitions further enhancing this growth.
In addition, QinetiQ projects operating profit margin of 12%-13%, although in the short-term we continue to anticipate margins being about 100bps lower, driven by increased investment on its digital transformation programme and by the evolution of its business mix.
Capital expenditure is expected to be in the region of £90 million - £120 million per annum for the next two years.
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