THE QinetiQ group, Malvern's biggest single employer, reported a year of strong performance when it revealed its preliminary results today (Thursday).
Graham Love, the group's chief executive officer, said: “This has been another good year of all-round progress for the Group. We have achieved good organic growth, have continued to transition our UK business and strengthened our offering through targeted acquisitions made during the year.
"We have improved operating margins, generated strong cashflow and won new contracts in growth markets. These results demonstrate the strength of our operations."
The figures show that QinetiQ's revenue increased from £1,336 million in 2008 to £1,617.3 million in 2009, a rise of 18 per cent.
In the same period. underlying profits before tax increased 19 per cent, from £109 million to £130.2 million.
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