QinetiQ 3Q16 Trading in Line with Views; Warns on U.K. Defense Uncertainty
February 10 2016 - 2:46AM
Dow Jones News
LONDON--QinetiQ Group PLC (QQ.LN) Wednesday said trading was in
line with expectations during the third quarter of fiscal 2016 and
reiterated its full-year guidance, but warned on the uncertainty in
the U.K. defense market.
The technology solutions provider said performance in the EMEA
region was in live with views during the period, but has continued
to experience some descoping and delays to orders.
However, the division has won a contract with Motorola Solutions
Inc. (MSI) during these past three months, to provide monitoring,
assessment and assurance services in support of the delivery of the
U.K. emergency services network, QinetiQ added.
Trading in global products was as expected during the period,
but its performance remains dependent on the timing and shipment of
key orders in what is a shorter order cycle business, the company
said.
Among the division's new orders in the period, the OptaSense
business was awarded a contract to protect 2,000 kilometers of
pipeline, the company added.
Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter
@OlgaCotaga
(END) Dow Jones Newswires
February 10, 2016 02:31 ET (07:31 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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