LONDON (dpa-AFX) - QinetiQ Group Plc (QQ.L), a defense and security company, reported Thursday that its first-half profit after tax edged down to 63.0 million pounds from 63.7 million pounds last year.
Earnings per share, however, grew to 11.1 pence from prior year's 11.0 pence.
Underlying profit after tax was 80.9 million pounds or 14.2 pence per share, compared to 77.3 million pounds or 13.4 pence per share in the prior year.
Underlying operating profit was 106.6 million pounds, up from 100.1 million pounds a year ago.
Revenue grew 7 percent to 946.8 million pounds from 883.1 million pounds last year. Revenues went up 8 percent on an organic basis.
Orders grew to 1.03 billion pounds from prior year's 952.7 million pounds. Order backlog was 2.94 billion pounds, down from 3.13 billion pounds last year.
Further, QinetiQ announced that an interim dividend of 2.8 pence, higher than last year's 2.6 pence, will be paid on February 7, 2025 to shareholders on the register on January 9, 2025.
The company also said its share buyback programme has been extended by 50 million pounds.
Steve Wadey, Group Chief Executive Officer, said, 'Guidance for FY25 is unchanged and we remain on track to deliver our FY27 outlook of c.£2.4 billion organic revenue at c.12 percent margin. We are well positioned for long-term sustainable growth...'
The company expects to deliver high single digit organic revenue growth at stable margin in fiscal 2025.
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