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QinetiQ Says Q1 Trading Good; Backs FY19 Revenue Growth View - Quick Facts

Science and engineering company QinetiQ Group plc (QQ.L), in its first-quarter trading update on Wednesday, said it has made a good start to the new financial year with strong operational performance.

Further, the company maintained its fiscal 2019 expectations, with revenue growth at stable margins delivering continued operating profit progression excluding items.

The company said it is on track to deliver mid-single digit revenue growth this year.

Revenue under contract is now 85%, up from 74% in April 2019.

In EMEA Services, first-quarter orders and revenue were ahead of the prior year at expected margins. The growth was driven by good performance across the division, particularly in Cyber Information & Training business.

Global Products division performed well with orders, revenue and operating profit all ahead of the prior year. The company recorded good performance in all of core product businesses, particularly QinetiQ North America.

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