Plus   Neg

QinetiQ Q1 Order Intake Strong; Buys Naimuri For GBP 25 Mln - Quick Facts

QinetiQ Group plc (QQ.L) said that its order intake throughout the first quarter continued to be strong, despite COVID-19 related disruption in all of its markets. But, revenue and profit have been impacted by the disruption. The company's cost management actions has reduced the impact on profitability and delivered a strong cash performance.

In addition, QinetiQ announced the acquisition of Naimuri on a cash-free, debt-free basis for 25 million pounds. Naimuri is a software development and data analytics company, providing agile cloud-based services and technology to the UK Intelligence and Law Enforcement communities.

In the 12 months to 31 July 2020, Naimuri expects to deliver in excess of 9 million pounds revenue and 2 million pounds EBITDA.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
NASA's Osiris-Rex robotic spacecraft briefly touched down on near-Earth asteroid Bennu's surface on Tuesday to collect rock and dust samples that will be brought back to Earth in 2023. Bennu is currently more than 200 million miles, or 321 million kilometres, from Earth. Osiris-Rex launched from Cape Canaveral Air Force Station in Florida in September 2016. Amazon said Wednesday that free one-hour grocery pickup is now available to prime members at all U.S. Whole Foods Market locations. Previously, the prime members could pick up Whole Foods orders only at select stores. J.C. Penney said it is near to exiting Chapter 11 ahead of the busy December 2020 holiday season. The beleaguered retailer filed a draft asset purchase agreement towards finalization of the acquisition by Brookfield Asset Management, Inc. and Simon Property Group, Inc. They are expected to buy substantially all of J.C. Penney's retail and operating assets in a combination of cash and debt.
Follow RTT