28 Apr 2017 07:00
Embargoed until 0700 28 April 2017
Ultra Electronics Holdings plc
("Ultra" or "the Group")
Annual General Meeting Trading Update
Ultra, the international defence, security, transport and energy company, today holds its Annual General Meeting at 10.00 a.m. and provides the following scheduled brief trading commentary.
For the period 1 January 2017 to 27 April 2017, conditions in Ultra's markets have remained as noted on 6 March 2017 in the 2016 preliminary results announcement. The Group's trading and cash performance in the period is as expected at this stage of the year and our expectations for the full year remain unchanged. As previously stated on 6 March 2017, the Group's performance for the year will be more weighted to the second half than normal due to the current six-month Continuing Resolution to US Federal funding.
The Group's next scheduled update to the market will be the announcement of Ultra's interim results on 7 August 2017.
Enquiries:
Rakesh Sharma, Chief Executive 020 8813 4307
Susan McErlain, Corporate Affairs Director 07836 522 722
James White, MHP Communications 020 3128 8756
www.ultra-electronics.com
020 8813 4321
Further information about Ultra:
Ultra Electronics is an internationally successful defence, security, transport and energy company with a long track record of development and growth. The Group manages a portfolio of specialist capabilities generating innovative solutions to customer needs. Ultra applies electronic and software technologies in demanding and critical environments ranging from military applications, through safety-critical devices in aircraft, to nuclear controls and sensor measurement. These capabilities have seen the Group's highly-differentiated products contributing to a large number of platforms and programmes.
Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra's systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra's positions for the long-term which underpins the superior financial performance of the Group.
Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers, as well as formulating Ultra's overarching, corporate strategy.
Across the Group's three divisions, Ultra operates in the following eight market segments:
· Aerospace | · Land |
· Communications | · Maritime |
· C2ISR | · Nuclear |
· Infrastructure | · Underwater Warfare |
.