QinetiQ Group Plc. (QQ.L), a defense, security and aerospace company, Wednesday reaffirmed its previous guidance for group performance in the full year to March 31, 2015, despite the continuing challenging markets.
Looking ahead, the firm said EMEA Services' performance is expected to remain steady this year despite the MOD transformation programme and the changes to the budgetary environment resulting from the upcoming UK General Election and subsequent Strategic Defence and Security Review. Together, these will create some short-term uncertainty but also provide opportunities for EMEA Services to build on its strong record of delivering 'more for less.'
At the same time, there is a wide range of possible outcomes for the performance of Global Products as the division has a lumpy revenue profile which is dependent on the timing and shipment of key orders.
On 27 January 2015, the QinetiQ Board announced the appointment of Steve Wadey as its new Chief Executive Officer. Wadey, who is currently the Managing Director of MBDA UK, will join QinetiQ on 27 April 2015.
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