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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.

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