June 27, 2018 / 6:53 AM / 2 months ago

Ultra Electronics warns on FY profit as Herley unit costs weigh

June 27 (Reuters) - Ultra Electronics Holdings Plc expects full-year operating profit at constant currencies to fall by as much as 6 million pounds ($7.9 million) and said its Herley business is continuing to be hurt by additional costs on development contracts.

However, the British defence contractor said on Wednesday it expects the Herley business, which designs and manufactures electronic assemblies and systems for the aerospace and defence markets, to see some recovery in the second half of the year.

For the first half of the year, Ultra Electronics said majority its operations have had better-than-anticipated order intake and are expected to deliver revenue and operating performances broadly in line with management expectations. ($1 = 0.7563 pounds) (Reporting by Ismail Shakil in Bengaluru; Editing by Amrutha Gayathri)

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