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QinetiQ FY19 Underlying Operating Profit Slightly Rises - Quick Facts

QinetiQ Group plc (QQ.L) reported a strong performance in fiscal 2019, delivering growth across orders, revenue and profitability. Underlying operating profit rose 1%, while revenue grew by 8% on an organic basis. Overall, the Group maintained expectations for fiscal 2020 performance, excluding non-recurring trading items, with revenue growth at stable margins resulting in continued operating profit progression.

For the year ended 31 March 2019, total profit before tax fell to 123.2 million pounds from 144.8 million pounds, prior year, due to higher specific adjusting items in previous fiscal year. Earnings per share was 20.0 pence compared to 24.3 pence. Underlying profit before tax increased 2% to 124.0 million pounds. Underlying earnings per share was 19.6 pence compared to 19.2 pence.

Fiscal year revenue was up 9% at 911.1 million pounds from 833.0 million pounds, last year. Revenue grew by 8% on an organic basis, for the fiscal year period. Orders in the year excluding LTPA amendments totalled 776.4 million pounds, a 28% increase on an organic basis.

The Board proposed a final dividend per share of 4.5 pence making the full year dividend of 6.6 pence. The full year dividend represents an increase of 5% in line with the Group's progressive dividend policy. The final dividend will be paid on 30 August 2019 to shareholders on the register at 2 August 2019.

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