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Defence firm QinetiQ warns of US, UK contract award delays, shares fall

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. -of-us-uk-contract-award-delays-shares-fall.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  British defence and security company QinetiQ warned on Monday of delays in short-term contracts being awarded in the U.S. and UK, where new policies are being implemented after changes in government.


Qinetiq, a British defense technology company, has issued a warning about potential delays in securing new contracts from the U.S. and UK governments, leading to a significant drop in its share prices. The company, which provides services like testing and training for military forces, noted that while its order intake for the first half of the fiscal year was strong, the timing of new contract awards remains uncertain. This uncertainty has caused Qinetiq's shares to fall by 16% to 317.2 pence, marking the largest single-day decline since November 2022. Despite these challenges, Qinetiq anticipates that its full-year revenue and profit will align with market expectations, although it might not meet its medium-term targets for organic revenue growth and margin expansion.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/topstories/defence-firm-qinetiq-warns-of-us-uk-contract-award-delays-shares-fall/ar-AA1B5VKv ]