The shares were up 2.4% at 329.8p in early deals – a gain of 22% over the last 12 months – after the company reiterated expectations of high single-digit percentage revenue growth.
Revenue in the six months to the end of September rose to £486.5mln from £420.3mln the year before, while the total funded order backlog surged to £3.1bn from £1.9bn the year before.
Total orders received in the six month reporting period clocked in at £410.8mln, compared to £298.1mln a year earlier.
QinetiQ Group (@QinetiQ) November 14, 2019
Underlying earnings (EBITDA) jumped to £93.4mln from £69.8mln in 2018, helped by a £13.3mln gain on the sale of property.
Profit before tax, excluding one-off items, improved to £71.3mln from the previous year’s £52.7mln.
Net cash at the end of September had dipped to £173.5mln from £220.8mln a year earlier.
The interim dividend was nudged up to 2.2p from 2.1p last year.
"Our strategy to drive value for our customers and shareholders continues to gather momentum. We delivered a strong first half result, with organic growth in orders, revenue and profit driven by a good performance across our businesses, both in the UK and internationally. We are maintaining expectations for full-year operating profit with high single-digit revenue growth,” revealed Steve Wadey, the group’s chief executive officer.