Jack Diamonds
14 Nov 2017
Apples & Pears ? I think its very dangerous to assume the woes of Ultra have a connect across to QQ.Compare the Trading Statement from QQ on 29 Sept (with results due on Thursday) with yesterdays Ultra news article.Directors spent c£500k scooping up shares in the £2.40s after the SP coming down from £3.22. What do they know or what have they got wrong ?JackQinetiQ Group plcPre Close Trading Update29 September 2017QinetiQ today issues a short trading update before entering its closed period for the half year ending 30 September 2017. OutlookTrading has been in line with expectations and the outlook for overall Group performance this financial year is unchanged. EMEA ServicesThe EMEA Services division started the year in a strong position. Following stronger order intake in the second quarter, FY18 revenue under contract is as expected at this stage in the financial year. We reiterate our guidance for modest growth in revenue in FY18.Global ProductsThe Group's Global Products division has been trading in line with expectations during the first half of the year. As a result of its contracted orders and pipeline of opportunities, as well as the anticipated full year contribution from QinetiQ Target Systems, the division is expected to grow in FY18.Strategic progressQinetiQ continues to make progress towards becoming a more customer focused and international company. In both the UK and internationally we are particularly well placed to help customers meet the challenges of increasing capabilities while addressing budgetary concerns, and this is reflected in recent key contract awards. In our UK home market, as part of our strategy to modernise test and evaluation, we secured:·An £8m order from the UK Ministry of Defence (MOD) to provide naval combat systems expertise for Type 26 Global Combat Ship added to the £110m 11-year Naval Combat System Integration Support Services (NCSISS) contract agreed with the MOD this time last year·An order from Boeing, worth approximately £25m, to continue to deliver wind tunnel testing for their commercial aircraft development until 2024 In our US and Australian home markets, as part of our strategy to build an international company, we were awarded: ·A significant order for aircraft launch and recovery equipment for the new class of US Navy aircraft carriers·An AU$8m order to manage mine warfare maintenance facilities at HMAS Waterhen for the Australian Department of DefenceENDS========== ========== ========== ========== ========== ========== =========The share price of defence group Ultra Electronics plunged by almost a quarter as investors reacted to the company’s chief executive being ousted and a profit warning late on Friday night.It emerged after markets closed at the end of last week that the company’s veteran chief executive Rakesh Sharma was leaving with immediate effect - news which was first reported by the Telegraph. The decision followed what the company described as “a period of reflection" by the board on Ultra's future. FTSE 250-listed Ultra also warned of “difficult” conditions in the UK defence market, which represents about a quarter of the company’s £785m annual revenue.As a consequence, Ultra issued a profit warning, saying underlying operating profit of £120m compared with market forecasts of £132m and that organic revenue would decline by about 4pc.Investors digested the turmoil at Ultra over the weekend and responded by dumping shares as trading began on Monday morning. They fell as much as 24pc in early trading to a low of £11.55.The decline wiped more than £200m off Ultra’s market value, and by mid-morning the shares were at £12.44, down from a peak of more tha £20.00 six months ago.Ultra has been struggling for some time time, missing growth targets for the past four years, but has not been singled out for disappointing investors because of wider problems in the sect
evenlongershot
13 Nov 2017
Re: Speculative buy Likewise in today at 2.14 based on the chunky drop today and Telegraph Questor’s article a few weeks ago. Not sure how long I’ll hold my nerve and stay in if there is a nice bounce back, but when a director buys in at 2.40 and the share price is well below that pressure is on him if he wants to see any upside on his purchase!
gamesinvestor
13 Nov 2017
Speculative buy In at 217.2modest entryGames
gamesinvestor
13 Nov 2017
Re: 4.28% drop Yep -- see last post -- CEO ousted.UK cutting back in 2nd half.Games
soothsayer2
13 Nov 2017
Re: 4.28% drop Bad news from ultra Electronics dragging the sector down....
gamesinvestor
13 Nov 2017
4.94% drop - Ultra? Is it related to this statement from Ultra and the CEO leaving :-[link] a trading statement ahead of its year end on 31 December 2017, the company said that while the majority of its markets have been “satisfactory”, the UK has been difficult and has become increasingly so in the second half. It pointed to mounting pressures in the funding of UK defence programmes and said this has resulted in the UK Ministry of Defence pausing, cancelling or delaying a number of programmes."""Cancelling is the word here -- perhaps it's effecting all military contractors right now?Games -- 5.07% drop as I type
gamesinvestor
13 Nov 2017
4.28% drop what's going on here?Theymust have had an order cancelled or something perhaps?Games
gamesinvestor
13 Nov 2017
Another 3.63% drop following on from similar on Friday.Can't see any news at the moment.Games
paul1945
02 Oct 2017
J P MORGAN Today target price 290
gamesinvestor
02 Oct 2017
Re: MOD est, anything but......... Jack -- everything you typed seems to make perfect sense, except the market reaction.Despite this stellar new bus - the share price has declined since the uptick last Thursday and it's down again nearly 3% as I type.Very strange Games
paul1945
01 Oct 2017
Re: is Corbyn the real problem ? still shaking head
valeite
30 Sep 2017
is Corbyn the real problem ? forgive me if this has been raised before......what part has the thought of having a bonkers labour party in charge played in the rather harsh share price markdown ....it seems to have fell back from when the conservatives lost their majority .i'm beginning to think about political risks now that JC is a real potential PM (shakes his head in disbelief) .back to QQ.....a pretty good update and a rather relieved investor here
Jack Diamonds
29 Sep 2017
MOD est, anything but......... It's probably worth looking back on the results to Mar 17 to gain the differential between Orders and Revenue. Order Backlog of £2.2 BN4% increase in year on year Revenues (some would say modest)Earnings per share up at 21pDividend up at 6p£220M plus cash in the bank74% of FY18 Revenues already under contract as we entered the new financial year. And 8-10 Director purchases at this ridiculous SP recently. When do we get to hear about the significant worldwide satellite contract. More than happy to accumulate at these levels and leave the horseplay to others. Jack[link]
gamesinvestor
29 Sep 2017
Inline - Modest "“We reiterate our guidance for modest growth in revenue in FY18.”The word modest seems a little telling.The orders that were announced were expected I assume to continue the business, I guess without them the business would have offered up a less than in-line statement and the share price would have fallen perhaps -- or am I looking for the negatives here.The boeing order looks like a continuation and not new business.The significant australian deal seems light on detail - but significant sounds promising.Games
sage in the hills
29 Sep 2017
RNS News release QinetiQ Group plcPre Close Trading Update29 September 2017QinetiQ today issues a short trading update before entering its closed period for the half year ending 30 September 2017. OutlookTrading has been in line with expectations and the outlook for overall Group performance this financial year is unchanged. EMEA ServicesThe EMEA Services division started the year in a strong position. Following stronger order intake in the second quarter, FY18 revenue under contract is as expected at this stage in the financial year. We reiterate our guidance for modest growth in revenue in FY18.Global ProductsThe Group's Global Products division has been trading in line with expectations during the first half of the year. As a result of its contracted orders and pipeline of opportunities, as well as the anticipated full year contribution from QinetiQ Target Systems, the division is expected to grow in FY18.Strategic progressQinetiQ continues to make progress towards becoming a more customer focused and international company. In both the UK and internationally we are particularly well placed to help customers meet the challenges of increasing capabilities while addressing budgetary concerns, and this is reflected in recent key contract awards. In our UK home market, as part of our strategy to modernise test and evaluation, we secured:·An £8m order from the UK Ministry of Defence (MOD) to provide naval combat systems expertise for Type 26 Global Combat Ship added to the £110m 11-year Naval Combat System Integration Support Services (NCSISS) contract agreed with the MOD this time last year·An order from Boeing, worth approximately £25m, to continue to deliver wind tunnel testing for their commercial aircraft development until 2024 In our US and Australian home markets, as part of our strategy to build an international company, we were awarded: ·A significant order for aircraft launch and recovery equipment for the new class of US Navy aircraft carriers·An AU$8m order to manage mine warfare maintenance facilities at HMAS Waterhen for the Australian Department of Defence ENDS Notes for Editors: For further information please contact: David Bishop, Group Director Investor Relations and Communications+44 (0) 7920 108675Investor RelationsIan Brown, Group Head of Investor Relations+44 (0) 7908 251123Media RelationsQinetiQ press office+44 (0) 1252 393500 QinetiQ's interim results for the half year ending 30 September 2017 will be announced on 16 November 2017. Listed on the London Stock Exchange (LSE: QQ.L), QinetiQ is a leading science and engineering company operating primarily in the defence, security and aerospace markets. Our customers are predominantly government organisations including defence departments, as well as international customers in other targeted sectors. ·Visit our website www.QinetiQ.com·Follow us on LinkedIn and Twitter @QinetiQ·Visit our blog www.QinetiQ-blogs.comSAGE
