2nd Aug 2018 11:01
LONDON (Alliance News) - Spirent Communications PLC said Thursday its profit for the first half of the year grew 21% despite a slight dip in revenue.
For the six months to June 30, the communications technology company posted pretax profit up to USD17.4 million from USD14.4 million, as operating profit jumped 29% to USD14.6 million.
Meanwhile, revenue slipped to USD209.2 million from USD213.6 million, despite a 4% increase in order intake year-on-year, with the company saying that "trading performance seasonality" is usually weighted toward the second half.
"We continue to focus on core strategies matched to the growth opportunities offered by global trends to move products rapidly from development into network operations and to radically reduce costs," Chief Executive Officer Eric Hutchinson said.
Spirent lifted its interim dividend 5% to 1.76 pence per share from 1.68p.
Spirent shares were trading down 1.1% at 112.74p each.
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