LONDON (dpa-AFX) - QinetiQ Group plc (QQ.L), a defence technology company, Thursday reported profit before tax of 182.7 million pounds for the full year, lower than 192 million pounds in the previous year, primarily due to higher depreciation and amortisation.
Depreciation and impairment of property, plant and equipment increased to 58.8 million pounds from 51.5 million pounds a year ago, and Amortisation of intangible assets rose to 32.4 million pounds from 23.1 million pounds.
Excluding one-time items, underlying profit before tax rose to 227 million pounds from 189.7 million pounds last year.
Net profit declined to 139.6 million pounds or 23.8p per share from 154.4 million pounds or 26.5p per share a year ago.
Underlying profit increased to 169.6 million pounds or 29.0p per share from 152.9 million pounds or 26.3p per share last year.
Revenue for the year grew to 21 percent 1.912 billion pounds from 1.581 billion pounds in the previous year. Revenue increased 14 percent on an organic basis.
Order intake increased to 1.740 billion pounds from 1.724 billion pounds.
The Board has proposed a final dividend per share of 5.65p, to be paid on August 22 to shareholders of record on July 26.
Looking ahead, the company said it is increasing guidance for fiscal 2025 with strong growth in EMEA Services and stable Global Solutions. The company now expects high single-digit organic revenue growth in fiscal 2025. Additionally, QinetiQ said it is on-track to deliver its fiscal 2027 outlook of about 2.4 billion pounds organic revenue.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
