Proactiveinvestors United Kingdom QinetiQ https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom QinetiQ RSS feed en Mon, 27 May 2019 15:06:13 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - QinetiQ shoots higher as results impress ]]> https://www.proactiveinvestors.co.uk/companies/news/220854/qinetiq-shoots-higher-as-results-impress-220854.html Defence technology provider QinetiQ Group PLC (QQ.) discharged final results on Thursday that were slightly ahead of analyst forecasts, together with a record £3.1bn order backlog.

The FTSE 250-listed group reported revenue of £911.1mln for the year to 31 March, up 9% year on year or 8% on an organic basis, helped by particularly strong growth in its Global Products division.

READ: QinetiQ bags £1.3bn revenue boost from amended partnership with UK MoD

Orders were up 32% in the year, which ended with a record £3.1bn funded order backlog, strengthened by five major long-term programme wins during the year in the UK, US and Canada.

Statutory operating profit tumbled 19% to £113.8mln but thanks to organic growth offsetting a profit headwind from UK single-source regulations, underlying operating profit inched up 1% to £123.9mln. 

Earnings per share edged up 5.1% to 19.7p and the total dividend was nudged 5% higher to 6.6p per share, as flat cash inflow of £126.3mln left £188.5mln resting in the bank at year end.

“By improving our customer focus and competitiveness, we have delivered a third successive year of revenue growth, increased our international revenue share from 21% to 30% over the last three years, offset the UK single source profit headwind and delivered organic profit growth,” said chief executive Steve Wadey.

He hailed the "significant strategic achievements" over the year that he expects will underpin sustainable profitable growth in the years ahead, most notably the amendment to the long-term partnering agreement (LTPA) with the UK Ministry of Defence, QinetiQ’s largest single contract and the foundation for many of the capabilities it offers.

Analysts at BoA Merrill Lynch said the results looked strong across board, with the numbers beating consensus forecasts for underlying profit of £115.1mln on revenue of £877.5mln.

Those at JPMorgan Cazenove were similarly impressed and raised their share price target for QinetiQ to 300p from 270p.

QinetiQ's shares were propelled almost 3% higher to 305.36p on Thursday morning. 

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Thu, 23 May 2019 10:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220854/qinetiq-shoots-higher-as-results-impress-220854.html
<![CDATA[RNS press release - Preliminary Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190523070006_14084367/ Thu, 23 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190523070006_14084367/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190510104716_14069858/ Fri, 10 May 2019 10:47:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190510104716_14069858/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190501134101_14059648/ Wed, 01 May 2019 13:41:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190501134101_14059648/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190410152952_14036529/ Wed, 10 Apr 2019 15:29:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190410152952_14036529/ <![CDATA[RNS press release - QinetiQ completes pension scheme buy-in ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190410070002_14035092/ Wed, 10 Apr 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190410070002_14035092/ <![CDATA[News - QinetiQ to get £1.3bn revenue boost from amended long term partnership agreement with UK MoD ]]> https://www.proactiveinvestors.co.uk/companies/news/218073/qinetiq-to-get-13bn-revenue-boost-from-amended-long-term-partnership-agreement-with-uk-mod-218073.html QinetiQ Group PLC (LON:QQ.) said an amendment to its long term partnership agreement with the UK Ministry of Defence is expected to deliver a £1.3bn revenue boost until 31 March 2028.

The FTSE 250-listed engineer added that the amendment is to a 25-year contract under which it provides experimentation, test, evaluation and training support to the MoD.

READ: QinetiQ's North America unit wins US$164mln contract to provide small ground robots for the US Army

It said the contract generates revenue of around £220mln a year for delivering core capabilities such as the operation of sites and a further £100mln a year for project tasks such as conducting trials.

Under the amended agreement, the group will modernise 16 critical defence facilities in the UK, with the ministry to invest £190mln in modernising the infrastructure, equipment, and working practices across all the sites.

QinetiQ said it will fund the capital investment and will subsequently recover it from the MoD over the life of the contract.

Steve Wadey, QinetiQ’s chief executive, commented: "Today's agreement enhances our contribution to the safety and operational effectiveness of UK armed forces in an era when threats to our security remain acute and are changing rapidly. In line with our strategy, we are introducing innovative ways of working and making selective investments to reinforce the UK's position as a world-leader in the generation and assurance of military capability.”

In afternoon trading, QinetiQ shares were 1.7% higher at 306.40p. 

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Fri, 05 Apr 2019 15:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218073/qinetiq-to-get-13bn-revenue-boost-from-amended-long-term-partnership-agreement-with-uk-mod-218073.html
<![CDATA[RNS press release - QinetiQ secures £1.3bn LTPA amendment ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190405131307_14031118/ Fri, 05 Apr 2019 13:13:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190405131307_14031118/ <![CDATA[RNS press release - Update on LTPA amendment ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190328162026_14020123/ Thu, 28 Mar 2019 16:20:26 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190328162026_14020123/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190321070018_14009996/ Thu, 21 Mar 2019 07:00:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190321070018_14009996/ <![CDATA[News - QinetiQ's North America unit wins US$164mln contract to provide small ground robots for the US Army ]]> https://www.proactiveinvestors.co.uk/companies/news/216537/qinetiq-s-north-america-unit-wins-us164mln-contract-to-provide-small-ground-robots-for-the-us-army-216537.html QinetiQ PLC (LON:QQ.) has announced that it's North America unit (QNA) has won the competition for the delivery of small ground robots for the US Army, with the contract valued up to US$164mln. 

The FTSE 250-listed firm said the seven-year contract for the US Army's Common Robotic System-Individual (CRS(I)) program is on an Indefinite Delivery Indefinite Quantity (IDIQ) basis.

READ: QinetiQ buys military training group Inzpire for £23.5m

It added that the deal includes a Low Rate Initial Production (LRIP) phase worth approximately US$20mln over one-to-two years, followed by a series of annual production releases, with QNA awarded a US$4mln initial order as part of the LRIP phase.

The group said the CRS(I) robot is designed to be back-packable and is equipped with advanced sensors and mission modules for dismounted forces to enhance mission capabilities. CRS(I) features an interoperability profile (IOP) compatible open architecture to support a variety of payloads and missions to detect, identify, and counter hazards. 

Significant win

It pointed out that this significant win for small ground robots builds on QNA's recent contract awards for the Route Clearance Interrogation System program (RCIS) and Phase II of the Common Robotic System-Heavy program (CRS-H).

Jeff Yorsz, president of QinetiQ North America commented: "Providing robust, reliable, and exceptionally capable ground robots to support our armed services has been a driving passion at QNA for decades now.

"Our CRS(I) robot combines performance, intuitive control, and easy transport with a very competitive price point.  This will redefine the market for next-generation back-packable robots."

in late morning trading, QinetiQ shares in London were 0.2% higher at 306.80p.

 -- Adds share price --

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Fri, 15 Mar 2019 08:28:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216537/qinetiq-s-north-america-unit-wins-us164mln-contract-to-provide-small-ground-robots-for-the-us-army-216537.html
<![CDATA[RNS press release - QinetiQ North America Wins U.S. Army CRS contract ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190315070005_14003227/ Fri, 15 Mar 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190315070005_14003227/ <![CDATA[RNS press release - US robotics contract update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190314130617_14002740/ Thu, 14 Mar 2019 13:06:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190314130617_14002740/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190312135259_13999395/ Tue, 12 Mar 2019 13:52:59 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190312135259_13999395/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190212115906_13966652/ Tue, 12 Feb 2019 11:59:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190212115906_13966652/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190211091832_13964665/ Mon, 11 Feb 2019 09:18:32 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190211091832_13964665/ <![CDATA[RNS press release - Third Quarter Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190131070003_13952663/ Thu, 31 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190131070003_13952663/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190110120224_13930709/ Thu, 10 Jan 2019 12:02:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20190110120224_13930709/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181231125851_13919730/ Mon, 31 Dec 2018 12:58:51 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181231125851_13919730/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181231125612_13919726/ Mon, 31 Dec 2018 12:56:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181231125612_13919726/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181231125047_13919693/ Mon, 31 Dec 2018 12:50:47 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181231125047_13919693/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181221163643_13913953/ Fri, 21 Dec 2018 16:36:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181221163643_13913953/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181212092043_13900865/ Wed, 12 Dec 2018 09:20:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181212092043_13900865/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181211140001_13899616/ Tue, 11 Dec 2018 14:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181211140001_13899616/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181130104025_13887018/ Fri, 30 Nov 2018 10:40:25 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181130104025_13887018/ <![CDATA[RNS press release - QinetiQ completes strategic investment in Inzpire ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181120100036_13873428/ Tue, 20 Nov 2018 10:00:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181120100036_13873428/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181115070007_13867565/ Thu, 15 Nov 2018 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181115070007_13867565/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181112161054_13863962/ Mon, 12 Nov 2018 16:10:54 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181112161054_13863962/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181106133306_13857026/ Tue, 06 Nov 2018 13:33:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181106133306_13857026/ <![CDATA[News - QinetiQ buys military training group Inzpire for £23.5m ]]> https://www.proactiveinvestors.co.uk/companies/news/207530/qinetiq-buys-military-training-group-inzpire-for-235m-207530.html QinetiQ Group PLC (LON: QQ) has agreed to buy military training systems provider Inzpire Group for £23.5mln.

The deal will see defence technology firm QinetiQ buy 85% of Inzpire immediately, with the remaining 15% to be bought in two years, the defence technology provider said on Monday.

READ: QinetiQ maintains expectations in trading update

QinetiQ said Inzpire, which provides training and mission systems for military customers internationally, expects to deliver annual profit (EBITDA) of £2.0mln in the year on revenues of £13.3mln. Some three-quarters of its revenue comes from airborne training and evaluation services, primarily for Britain’s Royal Air Force. Inzpire also sells aviation mission system products, including full mission support systems integrated with aircraft avionics.

Inzpire is expected to deliver £13.3m revenue and £2.0m of adjusted Ebita in the financial year to 31 August.

"Our investment enhances our overall offer in defence operational training and mission systems, both in the UK and internationally,” QinetiQ CEO Steve Wadey said in a statement.

“Defence operational training represents an area of significant growth as customers around the world increasingly recognise the need to enhance their training capabilities cost-effectively. The combination of Inzpire and QinetiQ's capabilities, complemented by our previous acquisitions, creates a leading provider of critical defence training."

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Mon, 22 Oct 2018 07:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207530/qinetiq-buys-military-training-group-inzpire-for-235m-207530.html
<![CDATA[RNS press release - Strategic investment in Inzpire ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181022070005_13836421/ Mon, 22 Oct 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181022070005_13836421/ <![CDATA[RNS press release - Acquisition of E.I.S. Aircraft Operations ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181018070005_13833101/ Thu, 18 Oct 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181018070005_13833101/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181015135120_13829083/ Mon, 15 Oct 2018 13:51:20 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181015135120_13829083/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181010155641_13823984/ Wed, 10 Oct 2018 15:56:41 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181010155641_13823984/ <![CDATA[RNS press release - Aurora Partnership ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181010090002_13823123/ Wed, 10 Oct 2018 09:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20181010090002_13823123/ <![CDATA[RNS press release - Investor teach-in ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180913070008_13788912/ Thu, 13 Sep 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180913070008_13788912/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180911133316_13786740/ Tue, 11 Sep 2018 13:33:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180911133316_13786740/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180903141300_13776961/ Mon, 03 Sep 2018 14:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180903141300_13776961/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180810130011_13751755/ Fri, 10 Aug 2018 13:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180810130011_13751755/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180801070001_13738693/ Wed, 01 Aug 2018 07:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180801070001_13738693/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180725122753_13731108/ Wed, 25 Jul 2018 12:27:53 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180725122753_13731108/ <![CDATA[News - QinetiQ maintains expectations in trading update ]]> https://www.proactiveinvestors.co.uk/companies/news/201520/qinetiq-maintains-expectations-in-trading-update-201520.html QinetiQ Group PLC (LON:QQ.) has made no change to its expectations for the current financial year in a trading update for its first quarter.

The FTSE 250 defence technology company said its EMEA Service division had increased both its revenue and orders compared to the same period last year, while revenue under contract was in line with expectations for the point in the year.

READ: QinetiQ acquires Germany-based airborne training provider

The firm also said its Global Products division had continued to grow orders and revenues organically over the period, with its North America division reporting a good performance driven by demand for robots and survivability products while its Target Systems arm was continuing to grow and enhance its product portfolio.

QinetiQ also announced that its annual general meeting would be held at 11 am on Wednesday.

In early morning trading Wednesday, QinetiQ shares were up 0.3% at 272.3p.

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Wed, 25 Jul 2018 08:19:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201520/qinetiq-maintains-expectations-in-trading-update-201520.html
<![CDATA[RNS press release - First Quarter Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180725070005_13729980/ Wed, 25 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180725070005_13729980/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180710112433_13712287/ Tue, 10 Jul 2018 11:24:33 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180710112433_13712287/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180702070003_13700459/ Mon, 02 Jul 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180702070003_13700459/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180622141059_13690505/ Fri, 22 Jun 2018 14:10:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180622141059_13690505/ <![CDATA[RNS press release - Annual Financial Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180613113646_13678216/ Wed, 13 Jun 2018 11:36:46 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180613113646_13678216/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180613075515_13677622/ Wed, 13 Jun 2018 07:55:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180613075515_13677622/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180612171933_13676992/ Tue, 12 Jun 2018 17:19:33 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180612171933_13676992/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180612120917_13676459/ Tue, 12 Jun 2018 12:09:17 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3403/LSE20180612120917_13676459/