Qinetiq EMEA services strength balancing lumpiness concerns
30th Sep 2014 10:21
Defence and security technology group Qinetiq maintained its full year profit guidance thanks to strong growth from its services division outweighing uncertainty and lumpy revenues in other markets. The FTSE 250 company, a former Ministry of Defence spin-out, expressed caution that the current MOD t
Read moreSummit chief buys 30,000 shares
30th Jul 2014 16:48
AIM-listed drug developer Summit, which develops therapies for Duchenne Muscular Dystrophy and C. difficile infection, on Wednesday said its chief executive Glyn Edwards had acquired 30,000 shares. The 104.5p-a-share deal cost Edwards £31,350 and took his stake in the group to 233,333 shares. The
Read moreFTSE 250 movers: IG Group rises on increased divi payment
22nd Jul 2014 15:59
IG Group leapt following what broker Numis Securities termed a "substantial" increase in its dividend payment, up 28% to 22.4p. The financial spread betting firm reported a 2.4% rise in full-year trading revenue to £370.4m. Numis kept its 'add' rating on the stock with a target price of 665p. Secu
Read moreQinetiQ maintains full-year outlook
22nd Jul 2014 09:10
Security and defence group QinetiQ has maintained its outlook for the full year, although noted the uncertainty caused by the Ministry of Defence's (MoD) transformation programme and within its own Global Products division. The FTSE 250-listed company explained that the uncertainty caused by the M
Read moreCranswick non-exec builds stake
23rd Jun 2014 16:27
Non-Executive Director Mark Reckitt has modestly increased his holding in food producer Cranswick with the purchase of 1,300 shares. The £15,795 deal, in which Reckitt bought the shares at 1,215p each, came around one month after the group, which is Britain's largest pork processor, shrugged off r
Read moreSector movers: Rolls-Royce cash return lifts aero/defence stocks
19th Jun 2014 14:55
Aerospace and defence stocks were leading the risers on Thursday after engineering giant Rolls-Royce impressed investors with an unexpected £1bn cash return. Shares in Rolls jumped over 7% today after the firm pledged to buy back £1bn of shares if it succeeds in selling its energy gas turbine and c
Read moreBerenberg sees upbeat aerospace outlook, but Iraq unrest may weigh
17th Jun 2014 14:13
Defence firms are cashing in on more US budget certainty and civil aerospace prospects remain good, but Iraq unrest could throw the cat among the pigeons, broker Berenberg says. Civil aerospace and defence stock valuations have converged in the last year as defence headwinds have moderated and prof
Read moreQinetiQ CFO sells shares post vesting
28th May 2014 15:32
The Chief Financial Officer of defence group QinetiQ, David Mellors, on Tuesday sold 52,848 shares after the company vested earlier the same day. Mellors, who was appointed to the role in August 2008, traded in the shares at just under 195.47p a share, maintaining his stake at 376,016 shares. Le
Read moreQinetiQ completes sale of US Services division, share buy-back to commence
27th May 2014 07:52
Aerospace, defence and security services group QinetiQ has completed the sale of its US Services division, paving the way for a cash return to shareholders. The $165m disposal to US firm The SI Organisation, which was first announced on April 22nd, has received all regulatory and shareholders appro
Read moreUS defence cuts hit Qinetiq but other businesses picks up
22nd May 2014 08:08
US defence budget cuts hit annual profits at Qinetiq, but the defence group said its non-US activities were picking up. Qinetiq, which makes James Bond-style gadgets such as bomb-defusing robots for military and commercial uses, blamed the US pullout from war-zones such as Afghanistan for a 21% fal
Read moreFTSE 250 movers: Pharmaceutical stocks surge
22nd Apr 2014 15:10
Worldwide Healthcare Trust and Hikma Pharmaceuticals tracked their FTSE 100 peers higher after AstraZeneca gained strongly on the back of takeover speculation, Shire rose following broker comment, and GSK also jumped after announcing a massive three-part deal with Swiss pharmaceuticals peer Novartis
Read moreQinetiQ plans 10 per cent buyback after sale of US business
22nd Apr 2014 07:06
Defence technology group QinetiQ has agreed to sell its US services arm and return the bulk of cash to shareholders. With a cash consideration of $165m (£100m) to be paid, plus a potential earn-out of up to $50m, the FTSE 250 company said it intends to return much of the value via a a £150m share
Read moreLondon pre-open: Stocks expected to move higher early on
28th Mar 2014 07:35
A positive start is expected for UK stocks this morning, led by gains seen in Asia overnight and recovering after yesterday's session which saw both miners and banks drag the main index lower. City sources predict the FTSE 100 will open around 18 points higher than yesterday's close of 6,588.32.
Read moreTroop withdrawal from Afghanistan hits QinetiQ
28th Mar 2014 07:16
The withdrawal of US troops from Afghanistan is delaying orders at defence group QinetiQ. QinetiQ, which makes James Bond-style gadgets for the military and intelligence services, said the gradual reduction of operations in Afghanistan was causing slippage in order flow and delivery schedules in it
Read moreSector movers: Rolls-Royce profit warning hits defence stocks
13th Feb 2014 16:27
Aerospace and defence stocks were hammered on Thursday by a profit warning from sector heavyweight Rolls-Royce, after the company said that cuts in government defence spending would keep a lid on profits this year. The world's second-largest maker of aircraft engines revealed an estimated 15-20% dr
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