Spirent Share News (SPT)

(Sharecast News) - Spirent Communications backed its full-year expectations on Thursday following "continued momentum" in the third quarter.
In an update for the period from 1 July to 30 September, the company said it secured several key strategic wins. For the nine months to the end of September, order intake growth was 13%, with revenue growth of 7%. Spirent said 5G continues to be a strong driver of growth in demand across its solution portfolio.

"We have been managing the growing global supply chain challenges well and consistent with many industries, are seeing more component cost rises which we are responding to with price increases," it said.

The company's expectations for the full year remain unchanged and in line with market consensus for revenue of $568m and adjusted operating profit $115m.

Chief executive officer Eric Updyke said: "We are continuing to grow in our key focus areas, such as lab to live assurance and driving our services offerings, whilst carefully managing ongoing supply chain disruption. The cyclicality in the business continues to reduce as we win more multi-year work and build sustainable revenues.

"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."