20th Jan 2022 09:37
(Alliance News) - Spirent Communications PLC announced on Thursday that it had seen a strong performance in the final quarter of 2021 despite ongoing supply chain challenges.
The Sussex, England-based telecommunications company said that annual revenue had grown 10% to USD576 million, driven by strong order intake growth through to its year end. In 2020, it reported revenue of GBP539.4 million.
Spirent said it now expects to deliver an adjusted operating profit that is "slightly" ahead of the market consensus which it placed as USD116 million. Last year the company reported an adjusted operating profit of GBP522.4 million.
Spirent said that high-speed Ethernet demand had outperformed the last quarter of 2020 and that it was experiencing some rebound in orders for lab-based positioning products.
Chief Executive Eric Updyke said: "Our business model is becoming increasingly resilient, supported by a robust financial and operational platform, and we are pleased to begin the new financial year with a growing orderbook with improved visibility. We are well placed to deliver further progress, with our key business drivers intact, and we continue to invest in our leading technology solutions across our portfolio."
Spirent expects to announce its 2021 results on March 10.
Shares in Spirent were up 6.3% at 244.80 pence on Thursday morning in London.
By Heather Rydings; [email protected]
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