(Alliance News) - Spirent Communications PLC on Thursday posted double-digit growth in orders, revenue and profit in the first half of 2022.
In the six months ended June 30, the telecommunications testing company posted a pretax profit of USD40.3 million, up 16% from GBP34.8 million the previous year.
Revenue increased by 10% year-on-year to USD280.1 million from USD255.1 million. By segment, Networks & Security - which makes up 55% of the company's total revenue, grew 9.3% year-on-year.
At June 30, the orderbook stood at USD283.6 million, up 30% from USD218.2 at the same time a year prior, while order intake in the half grew by 12% to USD295.5 million from USD263.8 million.
Spirent declared an increased interim dividend of 2.63 US cents, up from 2.39 cents the previous year.
Looking forward, the firm said it is confident in its ability to deliver on its growth plan for the year as it heads into the third quarter with strong momentum and an increased orderbook.
Shares in the FTSE 250 firm were down 0.9% at 277.60 pence on Thursday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Spirent (SPT)