LONDON (dpa-AFX) - U.K.-headquartered QinetiQ Group plc (QQ), an integrated defense and security company on Thursday said that based on the good operational performance in the first quarter to June 30, 2024, it is on track to meet fiscal 2025 expectations.
The company expects high single digit organic revenue growth at stable margin with good cash conversion, in line with its fiscal 25 guidance.
Order intake performance was good and revenue under contract for the full year has increased to 73 percent from 64 percent at April 2024, it said.
The company also expressed confidence in delivering the fiscal 27 target of approx.2.4 billion pounds of organic revenue at approx. 12 percent margin.
QinetiQ indicated that the EMEA Services segment continues to deliver good operational performance with revenue growth in line with its expectations. The Global Solutions segment also delivered strong order intake with revenue performance in line with its expectations.
The company also stated that Martin Cooper who has been appointed as Group CFO would join the company at the start of September, sooner than originally anticipated.
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