Ultra, the international defence, security, transport and energy Group, today issues a pre- close trading statement, ahead of its Interim Results for 2016.
Market conditions remain as noted on 29 February 2016 at the preliminary results announcement. In year trading in the first half has been as expected. Based upon the exchange rates as at 23 June 2016, Ultra’s expectations for the full year remain unchanged, other than the impact of the disposal of Ultra ID. The cash proceeds of this sale will be used to reduce debt. The Group’s performance for 2016 will be second-half weighted, as in previous years.
Increased programme stability has seen a useful uplift in US defence outlays in the early months of the year. Looking ahead it is likely that there will be a Continuing Resolution into the early months of 2017, as expected.
Order intake in 2016 has been positive, with an increase in order book value over the 2015 year-end position. Cash conversion is expected to follow a similar profile to 2015 with yearend cash anticipated within the normal range for the Group.
Ultra’s interim results announcement for the six months ending 30 June 2016 will be on 1 August 2016.
Enquiries:
Ultra Electronics Holdings PLC
Rakesh Sharma, Chief Executive
Amitabh Sharma, Group Finance Director
+44 20 8813 4300
Susan McErlain, Corporate Affairs Director
+44 7836 522 722
MHP Communications James White
+44 20 3128 8756