StockMarketWire.com - Qinetiq Group said a 32% increase in orders drove its full-year 2019 revenue and operational growth, as it sees "mid-single digit" revenue growth for 2020.

Underlying operating profit for the year ended 31 March climbed to £123.9m in 2019, from £122.5m a year earlier, while underlying pre-tax profit rose 2% year on year to £124m.

Revenue for the period increased to £911.1m from £833m a year earlier.

"This has been an excellent year with strong operational performance. By improving our customer focus and competitiveness, we have delivered a third successive year of revenue growth, increased our international revenue share from 21% to 30% over the last three years, offset the UK single source profit headwind and delivered organic profit growth," said Steve Wadey, Group Chief Executive Officer.

Looking forward to the 2020 full year, the company said it was maintaining expectations for Group performance - excluding non-recurring trading items, with revenue growth "at stable margins", resulting in continued operating profit progressing.

The company anticipated delivering mid-single digit revenue growth, including further organic progression.

The company's underlying basic earnings per share increased by 2% to 19.7p over the period, benefiting from the higher underlying profit after tax.

It proposed a final full-year dividend per share of 4.5p, making the full-year dividend 6.6p, an increase of 5%.


At 9:06am: [LON:QQ.] QinetiQ Group PLC share price was +17.4p at 314.2p



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