QinetiQ Group plc $224m contract win in the US (formerly Avantus) (0134L)
31 Agosto 2023 - 1:06PM
UK Regulatory
TIDMQQ.
RNS Number : 0134L
QinetiQ Group plc
31 August 2023
News release
QinetiQ Group plc
$224m contract win in the US (formerly Avantus) supports our
ambitious
growth plan
31 August 2023 - QinetiQ Group plc (QinetiQ) is pleased to
announce that it has won a five year $224m firm-fixed-price
contract to provide mission support to the US Space Development
Agency (SDA) .
This contract builds on an existing strong customer relationship
with the SDA, generating incremental growth on previous work. Under
the 5-year contract, QinetiQ will deliver management and
professional services, acquisition support, engineering and
technical assistance needed to deliver the Proliferated Warfighter
Space Architecture programme. The QinetiQ team, along with its
strategic partners, provide engineering services in support of
SDA's most critical space missions. This contract is the largest
competitive win for the Avantus business since QinetiQ's
acquisition in November last year and underpins our target of
greater than 10% annual revenue growth from Avantus.
Steve Wadey, Group Chief Executive Officer of QinetiQ, said:
"Securing this new contract is an important milestone in the
delivery of the ambitious growth plan for our US business,
including the excellent capabilities we acquired with Avantus last
year. It demonstrates our strategy is working, providing confidence
that we will deliver good returns, both organically and through
acquisitions. We remain confident in our plan to deliver high
single digit organic revenue growth at stable profit margins."
About QinetiQ
QinetiQ is an integrated global defence and security company
focused on mission-led innovation. QinetiQ employs more than 8,000
highly-skilled people, committed to creating new ways of protecting
what matters most; testing technologies, systems, and processes to
make sure they meet operational needs; and enabling customers to
deploy new and enhanced capabilities with the assurance they will
deliver the performance required.
Visit our website www.QinetiQ.com . Follow us on LinkedIn and
Twitter @QinetiQ. Visit our blog www.QinetiQ-blogs.com .
For further information please contact :
John Haworth, Group Director Investor Relations: +44 (0) 7920 545841
Lindsay Walls, Group Director Communications
(Media enquiries): +44 (0) 7793 427582
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