Commenting on the results, Leo Quinn, QinetiQ Chief Executive Officer said:
“We continue to reshape the Group through our Organic-Plus strategy. Of the ‘Core’ businesses, EMEA Services has generated a robust performance with encouraging order intake and is expected to remain steady this year. Despite heightened market uncertainty, US Services is stabilising and the strategic review of this division will determine the path to maximum value. As expected, Global Products has seen a decrease in conflict-related sales and continues to work on broadening its portfolio especially beyond defence.
“Our newer ‘Explore’ businesses are making good progress with several strategic wins building a foundation for future growth.
“Although the short-term range of possible outcomes remains wider than usual, particularly in Global Products, the Board is maintaining its expectations for overall Group performance in the current year absent any material changes in customer requirements. Over the medium term, our confidence that our ‘Core’ businesses and newer growth opportunities will drive an increase in sustainable earnings is reflected in the increased interim dividend.”