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Spirent Communications grows revenue and profits in H1; order intake growth of 6%

By BFN News | 09:39 AM | Thursday 06 August, 2020


Communications technology supplier Spirent Communications has announced revenue growth of 7% in the first half of 2020 driven by 'strong uptick' in 400G Ethernet test solutions and continued 5G acceleration, while order intake also increased. The company reported revenue in the six months to 30 June 2020 of $233.7m, while reported pre-tax profit rose 93% to $36m. Order intake was up 6% during the period to $232.1m, as Spirent said it saw strong orders and revenue growth from its Lifecycle Service Assurance business. The company's adjusted operating profit increased 91% to $39.5m in the six months to end of June. Spirent reported that it secured more than 250 5G-related wins from across the portfolio to support the market's acceleration during the period and confirmed 'significant wins' at service providers and leading network equipment manufacturers (NEMs) in North America, China and India. Chief executive Eric Updyke said: 'Spirent has demonstrated a resilient business model at a time when remote connectivity is critical. We delivered progress across the portfolio and materially improved our profitability.' At 9:39am: (LON:SPT) Spirent Communications PLC share price was -10p at 272.5p Story provided by StockMarketWire.com

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