LONDON (dpa-AFX) - Ultra Electronics Holdings plc. (ULE.L) Monday said its first-half underlying trading, since the the first-quarter update, has been strong and ahead of expectations.
In its trading update for the six-months ended July 2, group revenue growth has been robust despite the previously announced mainly Covid-19 driven operational inefficiencies experienced in the Maritime SBU in the first quarter. The issues are now broadly resolved.
The order book continues to grow and is significantly ahead of last year, driven by continued customer demand for Ultra's market leading technologies and capabilities.
Orders for the full financial year are expected to be well ahead of 2020, driven by Maritime, Intelligence & Communications and Forensic Technology.
Simon Pryce, CEO of Ultra, said, 'We performed well in the first half of 2021, despite the continuing impact of Covid-19, thanks to the exceptional efforts of our talented people.... We are increasingly confident in our ability to deliver exceptional value for all our stakeholders and further demonstrating the truly unique opportunity at Ultra.'
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