Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Ultra Electronics (ULE)

  Print      Mail a friend       Annual reports

Thursday 11 January, 2018

Ultra Electronics

Post-Close Trading Statement

RNS Number : 5389B
Ultra Electronics Holdings PLC
11 January 2018






Embargoed until 0700                                                                                          11 January 2018


Ultra Electronics Holdings plc

("Ultra" or "the Group")


Post-Close Trading Statement


Ultra, the international defence, security, transport and energy group, today issues a post-close trading statement in respect of its year ended 31 December 2017.


2017 Performance


Group trading remains in line with the announcement made on 10 November 2017. Full year revenue is expected to be over £770m and underlying operating profit just over £120m. Cash conversion is expected above 90% and follows the cash conversion of 92% for the year ended 31 December 2016. Order intake has continued to be strong at around £900m. The Board remains minded to recommend a final dividend of 35p per share and will finalise this when the Group announces its full year results.


2018 Outlook


The Group enters the year with an order cover on expected 2018 revenues of around 62%, compared with approximately 56% in 2017.  At this early stage of the year, the current expectations for 2018 are:

• Modest progress in underlying revenue and operating profit at constant currencies after investing for  the future through increased R&D and capital expenditure.

• Trading performance for each half of 2018 is expected to be approximately 48%:52%.

• Further good cash generation. The medium term guidance for cash conversion remains in line with the 80% to 85% levels mentioned in the announcement of 10 November 2017.


The Group will adopt IFRS 15 with effect from 1 January 2018 and will provide pro-forma 2017 results under IFRS 15 in March. The Group does not expect any material impact arising from this. Ultra also notes the approval of the new US tax legislation and Jobs Act. The Group anticipates that the announced changes will have a minor impact on the Group's effective tax rate for 2018 and will give further guidance on this in March.


The search for a new Chief Executive is underway and the Group will update the market when appropriate.


Douglas Caster, Executive Chairman commented: "Ultra continues to be a world-leading business with extensive intellectual property, strong market positions, differentiated technologies, talented people and a strong balance sheet. The Group's core strengths include world-leading positions in many of its specialist capabilities. It has positions on a broad number of long term platforms and programmes, significant exposure to the strengthening US defence budget, and growing demand for advanced defence technologies. The Group also has good visibility through a strong order book of just under £900m which excludes contributions from a large volume of IDIQs (US DoD indefinite delivery indefinite quantity contracts) and other off order book aerospace contracts. The Board is confident that Ultra has sustainable operating trading momentum with a significant number of recent long-term contract wins."


Ultra's results announcement for the year ended 31 December 2017 is scheduled for 5 March 2018.


- Ends -





Ultra Electronics Holdings PLC 


Douglas Caster, Executive Chairman                                                             +44 20 8813 4300

Amitabh Sharma, Group Finance Director                                                           

Susan McErlain, Corporate Affairs Director                                                     +44 7836 522 722


MHP Communications

James White                                                                                                    +44 20 3128 8756 



The person responsible for arranging the release of this announcement on behalf of the company is Amitabh Sharma, Group Finance Director.



Cautionary Statement:


The trading statement contains certain forward-looking statements. These statements are made by the directors of Ultra in good faith, based on the information available to them up to the time of the publication of the trading statement but such forward-looking statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking statements.


Ultra undertakes no obligation to revise or update any forward looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.


Further information about Ultra:


Ultra Electronics is an internationally successful defence, security, transport and energy company with a long, consistent track record of development and growth. The Group manages a portfolio of specialist capabilities generating innovative solutions to customer needs. Ultra applies electronic and software technologies in demanding and critical environments ranging from military applications, through safety-critical devices in aircraft, to nuclear controls and sensor measurement. These capabilities have seen the Group's highly differentiated products contributing to a large number of platforms and programmes.


Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors.  As a result of such positioning, Ultra's systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra's positions for the long term which underpins the superior financial performance of the Group.


Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers as well as formulating Ultra's overarching, corporate strategy.


Across the Group's three divisions, Ultra operates in the following eight market segments:



·                           Aerospace

·                           Land

·                           Communications

·                           Maritime

·                           C2ISR

·                           Nuclear

·                           Infrastructure

·                           Underwater Warfare


This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t