QinetiQ trading steady despite UK delays

29th Jul 2010 13:56

Defence technology group QinetiQ said its performance should be steady in the current year, with a strong result in the US for its global products division offset by delays in the UK.QinetiQ said defence markets in both the UK and US remain challenging as governments in both countries seek to reduce costs and focus on direct operational requirements.'Delays continue to be seen in orders from government customers in the UK and, to a lesser extent, from some sectors in the US,' it said. 'Additionally in the UK, the Strategic Defence and Security Review makes it difficult at this point to predict the areas likely to be targeted for cutbacks in defence spending and the levels of any such reductions.'QinetiQ, which makes military products such as decoys and flares, has businesses in the US, Europe, the Middle East and Australia.