QinetiQ Gets Five Year $170 Million Contract With US Government
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Dow Jones
By Najat Kantouar
QinetiQ Group said Monday that it has won a five-year contract worth $170 million with the U.S. Homeland Security Department for its tethered aerostat radar system.
This win takes the total new contract awards this year for Avantus--which it bought last year--to $827 million, equivalent to more than two and a half years of revenue cover, the defense-technology company said. This will ensure strong revenue growth in the second half and beyond, it said.
"This win further reinforces our growth plan for Avantus and our wider business in the U.S." Chief Executive Officer Steve Wadey said.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
November 20, 2023 02:46 ET (07:46 GMT)
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