Spirent Communications confident of mid-single-digit FY revenue growth
Telecommunications testing group Spirent Communications said on Thursday that it had seen continued strategic momentum in the third quarter, with its board still confident of the group showing progress in 2020.
Spirent stated its full-year expectations were unchanged as demand for its assurance solutions continued to show strong growth, offsetting market softness in order placement for positioning products from US government contractors.
Year-to-date revenue growth was said to be tracking "broadly in line" with the FTSE 250-listed group's stated mid-single-digit target.
Chief executive Eric Updyke said: "We have maintained good traction with our customers and we continue to benefit from the diversity of our portfolio as increased demand for our assurance solutions offset some short-term lumpiness in order placement in other areas.
"Overall, we are on track to show full-year progress in 2020 with, as in previous years, trading performance weighted to the second half of the year and to the final quarter."
As of 0910 GMT, Spirent shares were down 5.45% at 268.53p.