Vega Group Plc, the UK IT services company for the defense, aviation and space markets, feels it is poorly rated in the city. The problem is that once defense is mentioned investors see a market declining rapidly following the end of the cold war and turn their attention to sectors such as financial services and telecoms where growth is assured. In fact, Vega claims that defense cuts work in its favor as IT-based training systems hold attractions to military managers looking to save money. The company is also trying to overcome a poor financial history and acknowledges it will have to turn in a run of good figures before it gains a high rating. It has shown healthy growth in the first half of the current financial year with net profits for the six months to October 31 up 77% at 955,000 pounds on revenue that rose 24% to 12.9m pounds.
