StockMarketWire.com - QinetiQ Group has maintained its expectations for overall performance for the full year ending 31 March 2018.

It said underlying trading in both the EMEA Services and Global Products divisions was as expected during the final quarter of the year.

QinetiQ's largest contract is the 25-year Long Term Partnering Agreement (LTPA) with the UK Ministry of Defence (MOD), signed in 2003 and running until 2028 with five-year repricing points.

The group is in detailed repricing discussions with the MOD regarding the operation and management of 15 LTPA sites and facilities not covered by the amendment signed in December 2016.

QinetiQ and the MOD have developed an interim pricing arrangement for 12 months beginning 1 April 2018, covering QinetiQ's continued delivery of test, evaluation and training support services. This interim arrangement will be under existing LTPA contract terms.

The EMEA Services division is bidding for a number of new opportunities with UK Government that will enable enhanced capability while also driving cost efficiencies.


At 8:34am: [LON:QQ.] QinetiQ Group PLC share price was +2.95p at 203.35p



Story provided by StockMarketWire.com