QinetiQ tackles tough US market as half year revenue falls
21st Nov 2013 09:35
QinetiQ, the defence, security and aerospace company, reported a 13 per cent fall in first half revenue to 599.6m pounds, reflecting budget constraints in US government spending. Underlying operating profit for the six months through September fell to £59.2m from £59.3m the previous year and under
Read moreBroker snap: QinetiQ a 'buy' after in-line first half results, says Investec
21st Nov 2013 09:32
QinetiQ reported broadly in-line first half figures, with revenues down 13 per cent to 599.6m pounds as a result of constrained US military spending. Underlying operating profit for the six months through September fell to £59.2m from £59.3m the previous year and underlying pre-tax profit dropped
Read moreSector movers: Aero/defence hit by US concerns after Ultra Electronics update
15th Nov 2013 15:42
Aerospace and defence stocks were being sold off on Friday after Ultra Electronics became the latest company in the sector to be hit by concerns over government funding in the States. The defence, transport and energy products company said that due to a "number of headwinds, mainly in the US govern
Read moreLondon close: Markets rise for eighth straight day, but RBS sinks
21st Oct 2013 16:54
The FTSE 100 hit a two-and-a-half-month high on Monday ahead of the eagerly anticipated US jobs report as markets managed to offset some heavy falls from heavyweight bank RBS. The UK lender dropped nearly 5% today after Chancellor George Osborne was quoted as saying that a decision over a 'good ban
Read moreQinetiQ leaps on speculation over sale of US arm
21st Oct 2013 16:05
QinetiQ, the defence technology and security firm, was a high riser today on weekend reports that it is putting its US division up for sale. The former Ministry of Deference research company said back in May that it was launching a strategic review into the unit after a "decline in performance" ow
Read moreSector movers: QinetiQ leads defence stocks higher on M&A reports
21st Oct 2013 15:44
Aerospace and defence stocks were gaining ground on Monday as deal speculation, trading updates and upbeat broker commentary lifted the sector higher. QinetiQ, the defence technology and security firm, was a high riser today on weekend reports that it is putting its US division up for sale. Hopes
Read moreFTSE 250 movers: QinetiQ rises on possible sale of US arm
21st Oct 2013 15:15
QinetiQ, the defence technology and security firm, was a high riser today on weekend reports that it is putting its US division up for sale. The firm announced back in May that it was launching a strategic review into the unit. Provident Financial was given a boost by JPMorgan Cazenove after it rei
Read moreLondon midday: FTSE 100 at a two-and-a-half-month high
21st Oct 2013 11:22
The FTSE 100 was trading at its highest levels since early August on Monday morning as equities extended gains made last week following the last-minute US deal to extend the debt ceiling. Upside was limited in morning trade, but London's benchmark index still managed to push past its September high
Read moreSunday newspaper round-up: Bank of England, QinetiQ, Bank ring fencing
20th Oct 2013 17:53
Departing Bank of England Deputy Governor Paul Tucker has told the Sunday Telegraph that the UK's economic recovery shows quantitative easing has worked. Tucker told the paper that the early benefits of the BoE's bond-buying programme were submerged by the Eurozone crisis. He said it was too early t
Read moreDefence group QinetiQ's US unit hurt by tight government spending
27th Sep 2013 07:34
Defence security and aerospace company QinetiQ Group said market conditions in the US remain challenging under a tight government budget and weak demand. The firm is working on controlling its costs to maintain competitive rates as the impact of sequestration on US government budgets for the fisca
Read moreSector movers: BAE, Rolls-Royce lead aero/defence sector higher
24th Sep 2013 14:27
Aerospace and defence stocks were among the best performers on Tuesday afternoon with gains from sector giants BAE Systems and Rolls-Royce providing a lift. BAE's share price was boosted on the news that South Korea has reopened an $8bn tender to upgrade its ageing air force. Seoul is looking for
Read moreLondon open: Markets open cautiously ahead of Easter weekend
28th Mar 2013 08:21
UK stocks opened tentatively on Thursday morning with the focus once again turns to Cyprus as banks re-open with capital controls in place to prevent worried depositors from clearing out their accounts. While markets have opened in a positive manner, gains are expected to moderate as traders refrai
Read moreQinetiQ remains on track for year
28th Mar 2013 07:22
Defence firm QinetiQ said it remains on course to achieve expectations for the financial year ending March 31st 2013 after a robust UK services performance and as challenging US market conditions persist. The group, which last month secured a £1bn deal with the Ministry of Defence to support to the
Read moreLondon pre-open: FTSE to edge lower in opening trade
21st Mar 2013 07:29
City sources predict the FTSE 100 will open down four points from yesterday's close of 6,433, as investors digest recent events both in the UK and abroad. Of recent concern is the political instability in Australia as the country awaits a new prime minister. Closer to home, on today's agenda is t
Read moreQinetiQ signs follow-on contracts with Shell
21st Mar 2013 07:00
Defence firm QinetiQ announced Thursday that its OptaSense distributed acoustic sensing (DAS) business has signed follow-on contracts with Shell. The contracts, which it says 'set a clear roadmap' for the provision of services over the next three years, include one for customer-funded product devel
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