January 11, 2018 / 7:25 AM / in 9 months

BRIEF-Ultra Electronics Holdings Expects Full Year Revenue To Be Over 770 Mln Pounds

Jan 11 (Reuters) - Ultra Electronics Holdings Plc:

* GROUP TRADING REMAINS IN LINE WITH ANNOUNCEMENT MADE ON 10 NOVEMBER 2017

* ‍FULL YEAR REVENUE IS EXPECTED TO BE OVER £770M AND UNDERLYING OPERATING PROFIT JUST OVER £120 MILLION​

* ORDER INTAKE HAS CONTINUED TO BE STRONG AT AROUND £900M IN FY 2017

* CASH CONVERSION IS EXPECTED ABOVE 90% AND FOLLOWS CASH CONVERSION OF 92% FOR YEAR ENDED 31 DECEMBER 2016

* ULTRA ELECTRONICS HOLDINGS - ‍BOARD REMAINS MINDED TO RECOMMEND A FINAL DIVIDEND OF 35P PER SHARE AND WILL FINALISE WHEN GROUP ANNOUNCES FY RESULTS​

* ENTERS YEAR WITH AN ORDER COVER ON EXPECTED 2018 REVENUES OF AROUND 62%, COMPARED WITH APPROXIMATELY 56% IN 2017

* ‍TRADING PERFORMANCE FOR EACH HALF OF 2018 IS EXPECTED TO BE APPROXIMATELY 48%:52%​

* MEDIUM TERM GUIDANCE FOR CASH CONVERSION REMAINS IN LINE WITH 80% TO 85% LEVELS MENTIONED IN ANNOUNCEMENT OF 10 NOV

* SEARCH FOR A NEW CHIEF EXECUTIVE IS UNDERWAY Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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