QinetiQ Group plc (QQ.L) reported a loss before tax of 137.0 million pounds for the year ended 31 March 2013, compared to profit of 316.3 million pounds, restated, last year. Loss for the year attributable to equity shareholders was 133.2 million pounds or 20.5 pence per share, compared to profit of 246.3 million pounds or 37.6 pence per share prior year.
Underlying profit before tax increased to 152.1 million pounds from 110.2 million pounds last year. Underlying profit per share improved to 18.7 pence from 13.5 pence last year.
Revenue decreased to 1.33 billion pounds, compared to 1.47 billion pounds last year. Revenue declined 12% on an organic basis at constant currency, impacted by continued budget uncertainty and reduced federal services spending, the Group said.
The Board of QinetiQ proposed a final dividend of 2.70 pence per share for the year ended 31 March 2013 making the full year dividend 3.80 pence. The final dividend will be paid on 6 September 2013 to shareholders on the register at 9 August 2013. The full year dividend represents an increase of 31% on the prior period.
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