QinetiQ Group plc (QQ.L), in its trading update, said it anticipates Group's performance in the second half to be broadly similar to that of the first half.
The Board now expects that the normal trading pattern of a seasonally stronger second half performance will not occur in the current financial year.
Net debt at 31 December 2009 closed at £509 million, up from the half year level due to the impact of cash restructuring, payment of £12 million deferred consideration for the acquisition of DTRI last year and other outflows. At the expected level of trading performance for the year, the Group said it remains well within its banking covenants.
For comments and feedback: editorial@rttnews.com