LONDON (dpa-AFX) - Sepura Plc (SEPU.L), a provider of TETRA digital radio products and systems, reported that it is performing in line with market view for the year, with the first-half trading benefiting from strong demand in its core markets. Terminal volumes went up by 28% year-over-year, mainly driven by further contract wins in Germany where shipments rose to 34,000 radios, from 21,000 during a year earlier.
During the period, Sepura Systems has witnessed strong order intake, including its first TETRA infrastructure contract in North America, with the Toronto Transit Commission, and significant contracts with Luxembourg utility CREOS and TOTAL's Leuna oil refinery.
Further, the company added that the Portalify OY acquisition closed on July 25, 2013 and the integration of Portalify's personnel and products into the Group's existing operations is on track.
As anticipated, the Group's reported Euro operating costs, that are incurred mainly in Sterling, were impacted during the period by movements in exchange rate hedges versus last year. This won't be the case in the second half, when the Group's hedging instruments are at comparable rates to second half of fiscal 2013, the firm stated.
Copyright RTT News/dpa-AFX