Pre-close confounds the doubters

QinetiQ’s pre-close statement continued to show the group’s confidence in the outlook and highlighted that despite fears of UK defence slowdown, order intake was strong in Q2 and revenue under contract is as expected at this stage. With growth in Global Products also confirmed, supported by a combination of organic growth and the contribution from the Target Systems acquisition, both divisions are set to advance. We are therefore maintaining our forecasts and are encouraged by the progress in the group’s strategic objectives, which have seen orders placed across the core UK business, as well as home markets in the US and Australia.