Ultra Electronics Holdings PLC AGM Statement (2856Y)
May 12 2021 - 1:00AM
UK Regulatory
TIDMULE
RNS Number : 2856Y
Ultra Electronics Holdings PLC
12 May 2021
For Immediate Release
12 May 2021
Ultra Electronics Holdings plc
("Ultra" or "the Group")
AGM Statement
AGM:
Ultra will be holding its Annual General Meeting ("AGM") in
London at 12:00pm BST today.
Ultra's preference is to welcome shareholders in person to our
2021 AGM. However, given ongoing Government restrictions on
gatherings in relation to Covid-19, we are unfortunately unable to
host shareholders at today's meeting. Shareholders are always
welcome to submit questions by emailing
investor.relations@ultra-electronics.com .
The results of the AGM will be published as soon as practicable
on www.ultra.group following the conclusion of the meeting.
Trading update:
Ultra has experienced strong order book growth in the period
since year end and order intake was well ahead of the same period
in 2020.
Revenue in the period was broadly flat year-on-year:
-- Maritime was marginally behind the prior year, mainly due to
pandemic driven milestone delays as well as some short-term supply
chain and productivity issues. These are primarily timing issues,
and we continue to anticipate strong revenue growth in Maritime in
2021.
-- Intelligence & Communications delivered strong revenue
growth and was well ahead of the prior year. We continue to expect
strong revenue growth in Intelligence & Communications in
2021.
-- As anticipated, sales in Critical Detection & Control
declined relative to the same period in 2020 due to global weakness
in commercial aerospace. There was however a stronger than expected
performance in our other Critical Detection businesses,
particularly Forensic Technology, which means we now anticipate
broadly flat revenue in Critical Detection and Control for the full
year.
Operating performance is progressing largely as anticipated and
our Focus; Fix; Grow transformation is on track. Cash generation
remains robust.
We continue to expect 2021 to be another year of good progress
for Ultra.
2021 Interim results:
Interim results for the six months ending 30 June 2021 will be
released on 3 August 2021.
Enquiries:
Ultra Electronics Holdings plc
Simon Pryce, Chief Executive
Jos Sclater, Chief Financial
Officer 0208 813 4307
Gabby Colley, Director Investor 07891 206239
Relations Investor.relations@ultra-electronics.com
Engine MHP 020 3128 8570
Tim Rowntree / James Bavister ultra@mhpc.com
/ Pete Lambie
About Ultra:
Ultra provides application-engineered solutions in the key
elements of mission critical and intelligent systems. Through
innovative problem solving, using sustainable capabilities, and
evolving technologies, we deliver outstanding solutions to our
customers' most complex problems in defence, security, critical
detection and control environments.
www.ultra.group
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END
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