Ultra Electronics lifts sales and profit

3rd Aug 2009 07:49

Strong military spending helped defence and aerospace group Ultra Electronics post a sharp rise in revenues and profits.Sales in the six months to June 30 rose by 40% from the same period the previous year to £325.5m, lifting headline pre-tax profits to £40.2m from £30.4m.Ultra said it benefited from having a broad portfolio of niche activities. Revenue in the aircraft and vehicle systems division was up 42% at £83.7m, information and power systems sales climbed 53% to £101m and tactical & sonar systems sales rose 32% to £140.8m.'The group operates in high growth market sectors, has a broad portfolio of positions on long-term programmes and is expanding its geographic reach,' said chief executive Douglas Caster. 'These factors give the Board confidence in the continuing progress of the group.'