Ultra Electronics chairman sells £8.45m worth in shares
8th Jun 2015 15:34
The chairman of Ultra Electronics and a connected person sold a total of £8.5m worth of shares in the defence and aerospace company. Douglas Caster sold 117,666 ordinary shares and Elizabeth Caster sold 333,522 shares for £18.78 each, bringing home £8.47m. Following both transactions, Caster holds
Read moreFTSE 250 movers: Imagination Technologies surges on takeover speculation, oil stocks lower
1st Jun 2015 14:11
Mid-caps were outperforming the blue chip index on Monday afternoon, buoyed by strength in the real estate, travel and electronics sectors. As of 16:00 BST, the FTSE 250 was trading 0.38% higher at 18,224.3. Imagination Technologies led the risers after analysts at Liberum tipped it as a possible t
Read moreUltra Electronics a 'buy' after deal with Kratos, says Investec
1st Jun 2015 09:34
Investec has advised buying shares in Ultra Electronics Holdings after the defence and aerospace group agreed to buy the electronics products division (EPD) of Kratos Defense and Security Solutions. The $265m deal with the US-based radio frequency and microwave systems supplier will increase Ultra E
Read moreUltra Electronics to acquire Kratos Defense for $265m
1st Jun 2015 07:56
Defence and aerospace group Ultra Electronics Holdings has reached a deal to acquire the electronics products division of Kratos Defense and Security Solutions for $265m (£173.5m). The deal with the US-based radio frequency and microwave systems supplier will increase Ultra Electronics' presence in
Read moreUltra Electronics on track as acquisitions offset political uncertainty
30th Apr 2015 15:22
In a one-line trading update, Ultra Electronics, a defence, security, transport and energy company, said its full-year results will be in line with expectations. At the time of its final results last month, chief executive Rakesh Sharma said that 2015 will benefit from acquisitions made in 2014 and
Read moreTuesday broker round-up
17th Mar 2015 11:20
Aviva: Credit Suisse reiterates outperform and 610p target price. Legal&General: JP Morgan Cazenove ups target to 220p from 212p and reiterates underweight. Glencore: Investec reiterates buy and takes target to 328p from 306p. John Wood Group: Canaccord Genuity reiterates hold and lowers target to
Read moreThursday broker round-up
5th Mar 2015 12:41
Rightmove: Credit Suisse lifts target price to 3220p from 2700p but cuts to neutral. Aviva: Panmure Gordon reiterates buy - with a 660p target, as does Westhouse Securities. Standard Chartered: UBS increases target price to 1000p from 980p and reiterates neutral view. Asos: Nomura ups target to 3,
Read moreFTSE 250 movers: Amlin sinks on weak profits, Electrocomponents up as chairman buys shares
2nd Mar 2015 13:19
Amlin, the British insurer and re-insurer, topped the fallers after reporting a drop in full-year pre-tax profit by 21%, as an environment of low interest rates and weaker investment return dented profitability. Broker Numis Securities cut its rating on the stock from' buy' to 'hold', noting the res
Read moreUltra Electronics to incur write-offs after Oman contract cancelled
25th Feb 2015 08:56
Ultra Electronics is up in arms after its joint-venture with the Oman Investment Corporation received a notice of termination on its contract to develop information technology services for the Oman Airport, and is aiming to try and recover costs. On 23 January the specialised electronics and softwar
Read moreUltra Electronics wins £18m contract with Ministry of Defence
10th Feb 2015 07:41
Ultra Electronics has won an £18m contract with the Ministry of Defence to supply sonobuoys for the Royal Navy's Merlin maritime patrol helicopter. Optioned for four years, the contract will be executed over the next two years to ensure the Royal Navy maintains a persistent anti-submarine warfare su
Read moreLondon open: Stocks extend rally post ECB, but mining shares fall
23rd Jan 2015 09:14
UK stocks were extending gains on Friday morning despite weakness in the mining sector, as sentiment continued to be boosted by the announcement of a €1.1trn stimulus package in the Eurozone. The FTSE 100 was up 0.5% at 6,832 early on after finishing the previous session at 6,796.60, its best finish
Read moreUltra Electronics confirms termination of Oman airport IT contract
23rd Jan 2015 08:18
Ultra Electronics, the UK defence, security, energy and transport group, has confirmed that its IT contract with Oman airport has been scrapped. The termination would likely lead to a provision against contract balances in Ultra's 2014 results, though 2014 cash would not be affected. "Discussions w
Read moreUltra Electronics awarded Royal Navy contract
8th Dec 2014 07:29
Ultra Electronics Holdings has been awarded a £27m contract for the Royal Navy's Sonar 2050 Technology Refresh Programme. Under the 10-year long deal, the firm's Sonar Systems division will deliver and support new hull mounted sonars for the Royal Navy's eight type-23 frigates. "This is a significa
Read moreUltra's 2014 revenue to reflect weak US defence market
19th Nov 2014 08:12
Ultra said on Wednesday 2014 revenues will be reduced by delays to orders as it works to resolve weak demand in the US defence market. Softness in US government defence expenditure in September will have a further impact on revenue, the defence, security, transport and energy group revealed in a tra
Read moreUltra Electronics wins supply deal for new Gulfstream aircraft
12th Nov 2014 09:31
The controls business of Ultra Electronics has been selected to supply electronic equipment on the newly announced Gulfstream G500 and G600 aircraft. Based on forecast sales of these aircraft, Ultra anticipates that these contracts will generate revenue of more than £45m over a multi-year contract.
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