| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: AEROSPACE & DEFENCE |
Ultra Electronics still confident on military spending |
|
Wed 11 Nov 2009
|
LONDON (SHARECAST) - Defence budgets in the US and UK remain sufficiently large to give Ultra Electronics headroom for further growth, the defence and aerospace group said as it reported that trading conditions remain in line with those outlined in its last update.
Ultra said that, while it is unlikely to be completely isolated from downward pressure on budgets, its strategy makes it inherently resilient. It said that the electronic equipment in which it specialises in represents an increasing proportion of equipment budgets. It also pointed to its broad range of ‘niche’ capabilities.
The firm said revenue continued to grow in line with expectations in the period between 1 July and 10 November. Big orders included a contract to supply sonars to the Royal Navy and a follow-on contract from the railway group Network Rail to provide specialist trackside electrical power equipment.
|
|
| |
|
 |
Archived Stories |
 |
|
Front Page Stories |
|
|
