11th Nov 2021 14:54
Spirent Communications PLC - Crawley, England-based provider of testing, analytics and security for telecommunications networks - Remains confident of "solid progress" in 2021. Annual expectations unchanged and in line with market consensus of revenue at USD568 million and adjusted operating profit of USD115 million. In 2020, Spirent had recorded revenue of USD522.4 million and adjusted operating profit of USD103.5 million.
Notes several key strategic wins in third quarter. "These wins included larger, longer-term contracts, that support our strategy to improve visibility and build repeatable business by growing our footprint in our customers' labs and continuing to move into their live networks," Spirent explains. Order intake in first nine months of 2021 up 13%, with revenue up 7% year on year.
Chief Executive Eric Updyke says: "Overall, we are on track to show full year progress in 2021 with, as in previous years, trading performance weighted to the second half of the year and to the final quarter. Whilst supply chain management has become more challenging, our expectations for the full year remain unchanged."
Current stock price: 287.60 pence
Year-to-date change: up 8.9%
By Paul McGowan; [email protected]
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