gamesinvestor
27 Nov 2017
Defence Budget Squeeze [link] hope that any potential impact on the general naval cuts and military spending cuts in general can be offset by some increased cyber business.Games -- no time to increase exposure to defence companies heavily exposed to UK
nk1999
23 Nov 2017
Re: berenberg lifts QQ. "QinetiQ shares have been "disproportionately" affected by wider bearishness on the sector after the profit warning from peer Ultra Electronics, said Berenberg, upgrading to 'buy' from 'hold'.Berenberg, which cut its target to 235p from 310p, said it believes UK aerospace and defence stocks "are experiencing wide-ranging short activity, creating real opportunity".QinetiQ now looks attractive within the sector and in a wider market context on the basis of a valuation of 12 times 2020 expected earnings, good cash flow visibility and net cash of £200m that is around 20% of its market cap.Occupying a niche research & development space in the UK defence market with multi-year contracts on a £2bn funded backlog, QinetiQ's offerings are largely shielded from the pressures in the UK defence market that have sent investors packing from the sector, said analyst Charlotte Keyworth, suggesting it is shorter-cycle products that under the most acute near-term demand pressure.The 3% organic growth at Qinetiq's interims was "encouraging" in an environment where peers such as Ultra Electronics, BAE Systems and Cobham are struggling to grow.As a normally highly cash-generative business, Keyworth looks beyond peak capex of £90m next year and sees normalised levels returning in the 2020 fiscal year, where the company will generate a 7.3% free cash flow yield, "which looks appealing"."
paul1945
23 Nov 2017
Mention headlines in market reports in D.mail & Times QQ shares soar but not today!
paul1945
23 Nov 2017
Mention headlines in market reports in D.mail & Times QQ shares soar but not today!
valeite
22 Nov 2017
berenberg lifts QQ. time to buy says berenberg.....the defence sector outlook has been poor but QQ. has been disproportionally sold off .
paul1945
21 Nov 2017
Barclays Overweight target cut to 265 from 285 suppose thats good
gamesinvestor
20 Nov 2017
Barking Mad Directors 20-Nov-17 Qinetiq Group QQ. Wadey ,Steve 50,000 @ 2.07p £103,310.0020-Nov-17 Qinetiq Group QQ. Harper,Michael 5,000 @ 2.04p £10,209.10Games
gamesinvestor
20 Nov 2017
Re: Woof! Some might say association with such canine beliefs will send you barking mad !!Games -- are there no homes?
Doggedly persevering
20 Nov 2017
Woof! If it looks like a dog, and it barks like a dog, it's a dog.I'm still prepared to walk it around the block, but I wish I'd never owned it.
paul1945
20 Nov 2017
Director dealing 2 dir. + 65k i have averaged @ 205.8 fingers X
gamesinvestor
16 Nov 2017
Re: Interim Results "Unexpected things just keep happening to them, don't they?"What are they Doggedly?As per previous post, highlighting some detail would be good.Was it unexpected to get an 11 year contract?Was it unexpected to get a sizeable extension to it?Was it unexpected to sell the US services in 2014 and pay down the debt.The nature of their business is very diverse. The obvious uncertainties are the still high exposure to UK military spend, and the fact they are dependent on a reasonable amount of one off orders.But still, having 89% of the business identified at the beginning of a year is probably one up on most of the FTSE250 companies -- I would have thought?At least they have kept their CEO in place, unlike GKN which is looking a decidely sickly of late.Games - The market is nervous and sells everything that announces anything at the moment.
Doggedly persevering
16 Nov 2017
Re: Interim Results Unexpected things just keep happening to them, don't they?
gamesinvestor
16 Nov 2017
Interim Results [link] earnings per share* for the Group increased by 14% to 9.0p (H1 2017: 7.9p), benefiting from higher profit before tax, lower effective tax rate and reduced number of shares due to the buyback programme which was completed in H2 2017. Statutory basic earnings per share for the total Group (including specific adjusting items) rose 31% to 11.3p (H1 2017: 8.6p), aided by the profit on disposal of property and intellectual property.""Dividend up 5%Perhaps annoyingly this :--"""Orders for the period were £276.3m, compared to £376.8m in the same period a year ago which included the £109m 11-year renewal from the UK Ministry of Defence (MOD) of the Naval Combat System Integration Support Services (NCSISS) contract. Excluding this contract, the RubiKon acquisition and foreign exchange, other smaller run-rate orders in the EMEA Services division fell by £30.1m. Approximately one third of this reduction was the result of the aggregation of smaller aircraft engineering orders into the Strategic Enterprise contract awarded two years ago, and two thirds relate to lower MOD commitments during the period.""picking out -- run-rate orders fell by £30.1MGames
gamesinvestor
15 Nov 2017
Re: Rockets and Drones ? "The difference being that Ultra admit it but QQ are still in denial?"Doggedly, can you be a bit more specific about what the management at QQ are in denial about?""I've seen QQ go over too many recent new cliff edges already.""Also can you clarify what these cliff edges are, and which divisions that they apply to in QQ?Your answers would be particularly interesting and useful when applied to the disciplines and divisions that QQ have set out.These are of course :-Air divisionLand & Critical InfrastructureMaritimeC4ISRCYBERSpaceWeapons (Target)RoboticsTrainingDon't you think that QQ is in all the right spaces going forward, particularly the Cyber and Robotics and the unmanned activities, or do you think that QQ just toy with these things and are never likely to be a serious player?Given the valuation 8X EBITA compared to Rockwell Collins at 25X -- and the net cash position -- you still don't think they are in a strong position?Or is the world going to hxll in a handcart do you think?Games
Doggedly persevering
14 Nov 2017
Re: Apples & Pears ? The difference being that Ultra admit it but QQ are still in denial? I've seen QQ go over too many recent new cliff edges already.
