Qinetiq's (LON:QQ) strategy is focused on delivering efficiencies for the UK MOD and investing for medium-term growth. The Q3 trading statement reassures that underlying trading is in line with expectations and FY18 guidance is maintained.
As we noted at the H118 results, QinetiQ is actively embracing the UK defence environment to help the MOD achieve the cost savings that it needs. The Q3 statement highlights some of the modernisation developments under the amended Long-Term Partnering Agreement (LTPA) contract. These include the first flights of new aircraft and a £9m order to modernise and develop Electro Magnetic Open Sea Ranges. Innovation is at the core of QinetiQ’s operations, with the signature of the first weapon system contract under the Strategic Enterprise framework.
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