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QinetiQ H1 Profit Declines, Revenues Up; On Track To Meet FY View - Quick Facts

QinetiQ Group plc (QQ.L), a defense, security and aerospace company, reported Thursday that its first-half profit after tax declined to 50.1 million pounds from last year's 64.1 million pounds. Earnings per share were 8.9 pence, lower than 11.3 pence last year.

Underlying profit after tax was 45.8 million pounds, compared to 51.1 million pounds a year ago. Underlying earnings per share were 8.1 pence, compared to 9.0 pence a year ago.

Revenue increased to 420.3 million pounds from last year's 392.5 million pounds. Revenues grew 8% organically driven by growth in both EMEA Services and Global Products.

Orders increased 9% organically.

Further, an interim dividend of 2.1 pence, same as last year, will be paid on February 8, 2019 to shareholders on the register at January 11, 2019.

Looking ahead, Steve Wadey, Group Chief Executive Officer said, "Significant competitive campaign wins, strong organic revenue growth and appropriate deployment of capital demonstrate that our strategy is now really delivering. Our good first half means that we are well placed to meet our expectations for full year performance."

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