QinetiQ Group PLC (LSE:QQ.), the defence contractor, said its first-quarter had been good, with revenue under contract for the year rising to 73% from 64%.
During the period, QinetiQ, which specialises in missile targeting among other things, won a new framework contract for NATO to utilise Test & Evaluation services plus a US contract for the long-term Future Long Range Assault Aircraft (FLRAA) programme.
Chief executive Steve Wadey said the good performance for the first quarter was in line with expectations.
“The relevance and demand for our services and products remains high in the elevated threat environment," he stated.
For the full year, FTSE 250-listed QinetiQ expects high single-digit organic revenue growth at a stable margin with good cash conversion.
Some £32 million of a £100 million share buyback programme had also been purchased by the end of the first quarter.
Longer-term, Wadey added he was confident of delivering on its target of £2.4 billion organic revenue at c.12% margin in 2027.