LONDON (ShareCast) - (Sharecast News) - UK defence engineer Qinetiq lifted annual earnings guidance, as strong order intake boosted revenues.
The company on Wednesday said it expected revenue growth on an organic basis of around 5% for the 2022 fiscal year, with underlying operating profit of at least £135m.

"Operating cash flow has been excellent and we retain a strong balance sheet with net cash at 31 March 2022 of £225m," the company said in a fourth quarter trading update.

Qinetiq said its full-year intake was strong at more than £1.2bn, boosted by significant growth in EMEA services, although this was offset by a slower recovery in its Global Products business.

Revenues in the US were slower to recover due to a constrained military budget.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE