4th Nov 2021 10:58
(Alliance News) - Ultra Electronics Holdings PLC on Thursday said it has secured a new contract with the UK Ministry of Defence in the region of GBP65 million.
Ultra is a London-based company serving defence and security customers.
It said the deal, worth more than 5% of group sales, will be awarded in the current financial year. The development and delivery programme will provide communications tools to the UK Armed Forces.
"This is a very significant order for Ultra's Cyber business. Not only does it further strengthen our strategic relationship with the Ministry of Defence, it is also evidence of Ultra's increasing capabilities," said Chief Executive Simon Pryce.
"The team has shown great commitment, particularly in the face of pandemic driven challenges, and continue to work collaboratively to develop outstanding solutions to highly complex problems," added Pryce.
FTSE 250-listed Ultra Electronics shares were trading 0.3% higher in London on Thursday morning at 3,256.00 pence each.
By Evelina Grecenko; [email protected]
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