26th Jun 2007 07:01
Ultra Electronics Holdings PLC26 June 2007 26 June 2007 Ultra Electronics Holdings plc ("Ultra" or "the Group") Trading Update The Board of Ultra is reporting on trading before the Group enters the closeperiod in respect of its interim results for the six months ending 30 June 2007,which will be announced on 30 July 2007. Ultra expects that revenue growth will be about 6% compared to the first half of2006, despite the continuing weakening of the US dollar. This growth will belargely organic with a small contribution from Winfrith Safety Systems (now partof Command & Control Systems within the Information & Power Systems division),acquired in July 2006. Overall, margins will be maintained through a constantfocus on achieving operational efficiencies while satisfying the expectations ofthe Group's customers. Ultra's strong cash generation in the final quarter of 2006 will impactoperating cashflow in the first half of 2007, as will the Group's continuinginvestment in the Boeing 787 and Airbus A400M programmes. As anticipated, theoperating cash conversion is therefore unlikely to exceed 50% in the period,though the current expectation is for a stronger performance for the full year. The Group has recently secured a number of contracts on long-term programmes,including a command and control system for Halifax Port, Canada and a contractfor a capability demonstration of a loitering munition system for the BritishArmy. At the end of the first half, despite adverse currency effects, the orderbook is expected to be approximately 5% higher than twelve months ago when itwas £550m. Ultra's broad spread of activities and its successful positioning on a range ofinternational programmes give the Board confidence in the Group's continuedprogress in the second half of 2007. - Ends - Enquiries:Ultra Electronics Holdings plc 020 8813 4321Douglas Caster, Chief Executive www.ultra-electronics.comDavid Jeffcoat, Group Finance Director [email protected] Weber Shandwick Financial 020 7067 0700Susan Ellis / Louise Robson Notes to editors: Ultra Electronics is a group of specialist businesses designing, manufacturingand supporting electronic and electromechanical systems, sub-systems andproducts for defence, security and aerospace applications worldwide. Ultra, which employs 3,000 people in the UK and North America, focuses on highintegrity sensing, control, communication and display systems with an emphasison integrated information technology solutions. The Group concentrates onobtaining a technological edge in niche markets, with many of its products andtechnologies being market leaders in their field. Ultra's products and services are used on aircraft, ships, submarines, armouredvehicles, surveillance systems, airports and transport systems around the world.Ultra also plays an important role in supporting prime contractors byundertaking specialist system and sub-system integration using the combinedexpertise of the Group businesses. Ultra is organised into three divisions as follows: Aircraft & Vehicle Systems including miniature airborne compressors; highintegrity software and systems; aircraft system electronics; aircraft cockpitindicators; aircraft noise and vibration control systems; airframe protectionsystems, armoured vehicle electronic information and control systems; human/computer interface equipment and shared working environment solutions. Information & Power Systems including command and control systems equipment;weapons interfacing electronics; radar tracking; electro optical tracking;surveillance systems; naval data processing and distribution; airport andairline information management systems; ID card systems; naval power conversion;signature management of naval vessels; transit system power conversion andcontrol. Tactical & Sonar Systems including secure tactical line-of-sight radio systems,multiplexers and switches; voice communication systems; tactical data links;cryptographic equipment; active, passive and multi-static sonobuoys; sonobuoyreceivers and processors; distributed surveillance sensor arrays; ship's sonarsystems; acoustic countermeasure systems and ship's torpedo defence systems. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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