QinetiQ Group PLC (LON:QQ.) said it has seen significant disruption to deliveries in its Global Products division from the coronavirus pandemic but that order intake has remained strong.
In a trading update for its first quarter to end-June, the defence contractor said revenue and profit have been impacted by the disruption, but cost management actions have delivered a “strong” cash performance.
The EMEA Services arm saw “limited impact” from COVID-19 as its long-term national defence contracts rumbled on, though some customer trials and training activity was delayed.
However, the FTSE 250 group said much of this activity is now resuming, while the disruption in Global Products is beginning to resume.
QinetiQ also announced the £25mln acquisition of Manchester-based software development and data analytics company Naimuri, with which it has been working on several 'data intensive' UK Intelligence and law enforcement contracts.
In the 12 months to 31 July 2020, Naimuri is expecting to deliver more than £9mln of revenue and a £2m underlying profit.