Geopolitical ImpactRecent geopolitical uncertainty has impacted higher-margin US sales in the Global Solutions division in 4Q25, which represents c.25% of group revenue.
Leadership ChangesThe head of QinetiQ US, Shawn Purvis, is leaving the organisation.
Order IntakeA weakness in short-cycle order intake for the UK Intelligence and US Sectors business are the major source of downgrades to the top line.