QinetiQ 3Q16 Trading in Line with Views; Warns on U.K. Defense Uncertainty

LONDON--QinetiQ Group PLC (QQ.LN) Wednesday said trading was in line with expectations during the third quarter of fiscal 2016 and reiterated its full-year guidance, but warned on the uncertainty in the U.K. defense market.

The technology solutions provider said performance in the EMEA region was in live with views during the period, but has continued to experience some descoping and delays to orders.

However, the division has won a contract with Motorola Solutions Inc. (MSI) during these past three months, to provide monitoring, assessment and assurance services in support of the delivery of the U.K. emergency services network, QinetiQ added.

Trading in global products was as expected during the period, but its performance remains dependent on the timing and shipment of key orders in what is a shorter order cycle business, the company said.

Among the division's new orders in the period, the OptaSense business was awarded a contract to protect 2,000 kilometers of pipeline, the company added.

Write to Olga Cotaga at [e-mail], Twitter @OlgaCotaga

(END) Dow Jones Newswires

February 10, 2016 02:31 ET (07:31 GMT)

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