QINETIQ GROUP (LSE:QQ.)

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Qinetiq, MoD sign £998m support services pricing deal

QinetiQ said the UK Ministry of Defence will pay £998 million for the third five-year term of their long-term partnering agreement (LTPA).

Qinetiq has completed 10 years of the 25-year LTPA, and the just-agreed price for the third five-year term will see it continue to provide test, evaluation and training support services to the MoD.

"As a result of cost savings and some minor changes in scope, MOD will pay £998 million across the third five-year term of this contract," Qinetiq said.