Qinetiq Share Discussion Threads

[zeppo] 27/8/2012 14:56

wad collector

More comfortable with this now.

Any future rises in divi will get it over the £2.00.

z

[wad collector] 24/8/2012 17:49

Ended the week on a 3 yr high ; it'll be almost up to the flotation price soon!

[bazboa] 07/8/2012 12:28

true, but if it continues its steady growth over the ext year it wont really matter about the 1.2%

[wad collector] 07/8/2012 10:54

Agree , but yield of 1.2 % is pitiful , depends if you view it as an R&D rather than manufacturer.Tempted to sell a few.

[bazboa] 06/8/2012 08:12

Good company, good outlook.

[zeppo] 26/7/2012 14:03

Positive after this trading statement, prior to the AGM:

'QinetiQ Group plc

Interim Management Statement



QinetiQ Group plc ('QinetiQ') today issues an Interim Management Statement for the first quarter prior to holding its Annual General Meeting at 1pm today at The Royal Berkshire Hotel, London Road, Sunninghill, Ascot, Berkshire, SL5 0PP.



Trading environment



As described in the full year results announcement on 24 May 2012, defence markets remain challenging as governments seek to re-set budgets to deliver deficit reduction goals. While recent government announcements suggest uncertainty is reducing in the UK, visibility remains extremely limited in the US, with delays continuing in the award of both Department of Defense and federal civil business. The uncertainty is expected to continue at least until the outcome of the US Presidential elections, particularly as the overhang of possible sequestration is unlikely to be resolved before the end of the calendar year.



Business update



The Group has made a solid start to the 2012 / 2013 financial year.



UK Services is performing well and continues to benefit from a more competitive cost base and better project execution as a result of the rigour embedded during the self-help programme. The division is continuing to build on its core services expertise, securing a contract to establish a new Unmanned Air Systems Capability Development Centre (UASCDC) to support the MOD with the rapid development of UAS programmes from concept to deployment.



As expected, the performance of US Services reflects continued uncertainties in the federal services market with customers delaying contract awards. The division still has a large number of submitted bids awaiting award decisions.



Global Products has had a strong first quarter, receiving orders for the Q-NetTM vehicle survivability product that were expected in the second half of the year. Two key orders, with a combined value of $44m, were for Navistar's MaxxPro® MRAP vehicles operating in Afghanistan and for the US Army's Heavy Expanded Mobility Tactical Truck (HEMTT) - the first time Q-Net has been fitted to a large haulage vehicle.



Financial position



Cash generation has remained strong during the quarter. As previously announced, the Group received a one-off net payment of £65m during April which discharges the MOD from its accumulated liabilities for rationalisation costs incurred in previous years. The Group has also completed a programme to repay $177m of private placement debt.



Outlook



Despite continuing uncertainty in the US market, the Board believes that QinetiQ's increased competitiveness and agility will enable the Group as a whole to perform in line with its expectations for the current financial year.

ENDS



Notes to Editors:



A FTSE250 company, QinetiQ uses its domain knowledge to provide technical support and know-how to customers in the global aerospace, defence and security markets. QinetiQ's unique position enables it to be a trusted partner to government organisations, predominantly in the UK and the US, including defence departments, intelligence services and security agencies.



QinetiQ is holding an investor day at its UK businesses in Farnborough, Hampshire on 26 September 2012. For further information and to register your interest please see www.QinetiQ.com/investors. The Group will report its results for the six months to 30 September 2012 on 21 November 2012.



For further information please contact:



Media relations:

QinetiQ press office
[phone]

Brian Hudspith, Maitland
[phone]

Liz Morley, Maitland
[phone]




Investor relations:

David Bishop, QinetiQ
[phone]'

z

[wad collector] 05/7/2012 21:34

That's a 2 yr high now - not sure we can expect much more than 180p this year.

[wad collector] 29/6/2012 13:06

On the positive side , there has been pretty steady 2 yr share price growth.Shame I didn't buy all my holding then.I am sitting on a small profit here now, but don't expect much more this year.

[zeppo] 15/6/2012 21:36

What is the cold reality?

Things were looking so much better.


z

[wad collector] 15/6/2012 17:15

Some strange trades at the close today - looks like 2 million sold at 10p below offer price at 145p.And 1.2 million this morning as overnight trades.
I presume this is about Schroders buying and Artisan selling , but the notices are opaque to me.

[wad collector] 25/5/2012 18:52

QQ. - QinetiQ Group

LONDON (SHARECAST) - Privatised defence firm QinetiQ posted a rise in underlying pre-tax profit, despite a decline in revenues which reflected the uncertain trading environment and contract delays in the US and UK defence markets.

The exceptionally strong demand for its Q-Net vehicle survivability product last year was also reported to be a factor in the improved performance.

Revenue fell 11% from £1,702.6m to £1,469.6m, although this was slightly higher than forecasts of £1,460.6m.

Underlying profit before tax increased from £114.6m to £118.3m, with net finance costs increasing to £43.0m in 2012 (2011: £30.8m) and full year underlying earnings per share up at 14.6p (2011: 14.2p).

Underlying operating profit rose 11% to £161.3m (2011: £145.4m) and the underlying operating margin increased to 11% (2011: 8.5%) as a result of last year's early cost reduction in the UK businesses and improved efficiencies and mix in Global Products.

These improvements were partially offset by lower margins in US Services where the restructuring is now complete, reducing indirect costs by $25m.

Closing net debt at March 31st 2012 improved to £122.2m, compared with £260.9m at the same date the previous year. The board proposed a final dividend of 2.00p, up 0.40p from the previous year, which the firm said reflected the achievement of its 24-months transformational self-help programme and confidence in the medium term.

Following the self-help programme, the company is now about to launch its next phase, which it is calling the Organic-Plus programme, which will see it invest in its defensible core, performance improvement, balance sheet strength and high cash conversion.

In a statement the company said: "Given the continuing uncertainty and lower than normal visibility in our markets, our expectations for trading performance in the current year remain unchanged.

"However, underlying earnings per share will benefit from early repayment of private placement debt and the reduction in the deficit of the UK defined benefit pension scheme following the change to CPI as the inflation index.

"The success of our self-help programme in restoring both the balance sheet and portfolio to strength gives the board confidence in QinetiQ's ability to build significant value over the next phase of its development."





Shares magazine in contrast is putting a sell note out citing diving turnover and low visibility.

Take your choice....
NR

[wad collector] 24/5/2012 11:39

I like this bit too ;
-- Pension deficit reduced to GBP31.5m (31 March 2011: GBP124.6m) following the change to CPI as the inflation index and GBP40m cash injection;

I can't see QQ setting the market on fire , will have to settle for a steadier looking future.Yield trivial compared to BAE ; one day this will have to stop being valued as R&D but be valued as a producer.

[zeppo] 24/5/2012 09:39

Excellent Divi rise - on the back of redundancies and cost cutting.


z

[wad collector] 18/4/2012 21:06

Oriel Securities initiates hold on QinetiQ, target price 155p

I would like to re-iterate that price target , until tomorrow morning when the market opens.Now , can I have a large performance bonus please?

[jon827] 30/3/2012 08:21

"QinetiQ has also obtained MOD agreement to changes in its Special Shareholder rights which are subject to shareholder approval at the Group's next AGM. These include removal of the MOD's right to veto any transaction or activity and the introduction of a less onerous compliance system similar to those of QinetiQ's peer companies. The material shareholder thresholds remain unchanged."

does that mean it could be for sale?

[gilgil4] 28/3/2012 09:50

Bought in yesterday, hoping for good results. I think the bullish management and the pension deal should see a positive reaction to the RNS due on the 30th.

[damanko] 27/3/2012 16:43

It's good in terms of confidence, in that the market now feels this millstone is slowly being removed (similar to BT last week.....).

The pension problem / defecit has - amongst other things, I'd say - been a factor in holding the QQ. share price back, so perhaps now the market can focus on other factors, and the price can move on. I've held since shortly after flotation, and this news is (I feel) a good enough reason to carry on.

[wad collector] 27/3/2012 15:16

Qinetiq Group plc

27 March 2012

QinetiQ Group plc

QinetiQ reaches agreement to reduce pension deficit and improve security of UK defined benefit scheme

QinetiQ announces today that it has reached agreement with the Trustees of its UK defined benefit pension scheme for the triennial actuarial funding valuation and other measures designed to reduce the funding deficit and improve the security of the scheme.

Following the judgement of Mr Justice Vos in the High Court on 14 March 2012, the Trustees are selecting the Consumer Price Index (CPI) as a suitable cost-of-living index for increases to pensions in payment and the revaluation of deferred benefits.

The actuarial impact of the change in index is estimated to be a reduction in the funding deficit of approximately GBP109 million. This is reflected in the result of the triennial funding valuation as at 30 June 2011 which has now been finalised with a net funding deficit of GBP74.7 million. A level of contributions has been agreed with the Trustees which is designed to eliminate the funding deficit, with QinetiQ making annual contributions of GBP13 million to 31 March 2018.

The following measures have been agreed with the Trustees to reduce the funding deficit and improve the security of the scheme:

-- An immediate one-off payment by QinetiQ of GBP40 million into the scheme.

-- A new asset-backed funding structure, secured on certain QinetiQ UK property, which will provide a yield of approximately GBP2.5 million cash per annum for 20 years to the scheme (index linked annually by reference to CPI). This is included in the GBP13 million recovery plan contributions.

-- A 20-year deed under which QinetiQ Group plc will assume the on-going liability for the scheme in defined circumstances such as the insolvency of participating employers.




Difficult to judge whether this is really good news.

[angelika] 20/2/2012 13:48

MT, that's interesting. Is this info available on the IG site.
Long myself!

[mechanical trader] 20/2/2012 13:27

IG Index


Client Sentiment

LONG 95% of IG clients with open positions in this market expect the price to rise
5% of IG clients with open positions in this market expect the price to fall

[mechanical trader] 20/2/2012 08:23

Mentionned in the National Press
yesterday, please see post above.

[mechanical trader] 19/2/2012 19:11

Should help the share price

[zeppo] 19/2/2012 19:02

mechanical trader

Thanks for that!

We can look forward to the Finals with a little more confidence.


z