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QinetiQ FY22 Underlying Operating Profit Declines On Organic Basis; Revenue Up 5%

QinetiQ Group plc (QQ.L) posted fiscal year 2022 underlying operating profit of 137.4 million pounds compared to 151.8 million pounds, last year, down 9%. Excluding the impact of the write-down underlying operating profit was flat at 151.9 million pounds. On an organic basis, underlying operating profit was down 12%. Underlying earnings per share was 20.4 pence compared to 21.9 pence.

For the year ended 31 March 2022, pretax profit declined to 119.7 million pounds from 142.6 million pounds, prior year. Earnings per share was 15.5 pence compared to 21.1 pence.

Revenue increased 3% to 1.32 billion pounds. Revenue was up 5% on an organic basis, for the period. Orders were up 9% on an organic basis.

The Board proposed a final dividend per share of 5.0 pence making the full year dividend 7.3 pence. The full year dividend represents an increase of 6% in line with the Group's progressive dividend policy.

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