LONDON (dpa-AFX) - QinetiQ Group plc (QQ.L), on Wednesday, issued trading update for its second quarter to 30 September 2022, and said it has delivered strong and consistent operational performance in the quarter.
The company noted that order intake 'continues to remain excellent with first half orders' at about £800 million, 18% higher than the first half of FY22, good organic revenue growth, profit in-line with its expectations and strong cash conversion.
With more than 90% of the company's FY23 revenue under contract, QinetiQ said it remains confident to deliver in-line with its expectations for the full year, despite the challenging macro-economic environment.
Steve Wadey, Group Chief Executive Officer said, '...We remain focused on disciplined execution of our strategy to build an integrated global defence and security company, delivering high-value solutions for our customers. Our strategy to perform and grow continues to build momentum across the Group, demonstrated by excellent order intake, good organic revenue growth, profit in-line with our expectations and three strategic transactions in the first half of the year.'
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