UPDATE 1-Ultra Electronics trading in line; sees order delays

* CEO Douglas Caster to replace Chairman Julian Blogh in 2011

* Co exec Rakesh Sharma to become COO, effective Jan. 1, 2010

* Sharma to succeed Caster as CEO in 2011

* H2 rev continues to grow, trading in line with its view

* Sees some evidence of delays in contracts in the UK (Adds details)

Nov 11 (Reuters) - Ultra Electronics (ULE.L) said second-half revenue continued to grow and trading had been in line with its view, but the British defence company saw some evidence of delays in the award of contracts in the UK.

The company also said Chairman Julian Blogh would retire in April 2011 and would be replaced by Chief Executive Douglas Caster.

The company said Rakesh Sharma, managing director of the group's Information & Power Systems division, would become chief operating officer from Jan. 1 next year. He would later succeed Caster as chief executive in 2011.

Ultra Electronics, which makes sonars to help submarines to detect each other, expects good progress in 2009 and beyond due to its strong order book and resilient business model.