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Ultra Electronics Holdings PLC (ULE.L)

ULE.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ultra Electronics Says FY Underlying PBT 101.4 Mln Stg
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Ultra Electronics Holdings PLC ::FY REVENUE £766.7M VERSUS £775.4M AS REPORTED A YEAR EARLIER.FY UNDERLYING PBT 101.4 MILLION STG VERSUS 110 MILLION STG AS REPORTED A YEAR EARLIER.FINAL DIVIDEND PER SHARE 37.0 P VERSUS 35.0 P.FY TOTAL ORDER BOOK 983.9 MILLION STG VERSUS 897.4 MILLION STG.2019 ORGANIC OPENING ORDER BOOK UP 5.2% (66% OPENING ORDER COVER)."ANTICIPATE THAT 2019 WILL BE A YEAR OF GOOD UNDERLYING PROGRESS".FY IFRS PBT £42.6M VERSUS £60.6M AS REPORTED A YEAR EARLIER."ANTICIPATE THAT 2019 WILL BE A YEAR OF GOOD UNDERLYING PROGRESS".SEES 2019 OPERATING MARGIN TO REMAIN IN MID-TEENS RANGE.FY UNDERLYING OPERATING MARGIN WAS 14.7% (2017: 15.5%).FOR 2019, TARGETING AN INCREASE IN OWN RESEARCH AND DEVELOPMENT INVESTMENT TO BETWEEN 4% AND 5% OF REVENUE COMPARED WITH 3.7% LAST YEAR.FIRST HALF OF 2019 WILL LIKELY SEE A NET CASH OUT-FLOW FOR GROUP.ANTICIPATED THAT CASH CONVERSION WILL RETURN TO GROUP'S HISTORICAL RANGE OF 80-85% IN MEDIUM TERM.INVESTMENT PROGRAMME IN IT INFRASTRUCTURE & SYSTEMS TO BE 3-4-YEAR OPERATIONAL EXPENDITURE IMPROVEMENT PROGRAMME AT COST OF C.£5M/YEAR.2019 WILL HAVE A SIMILAR SECOND HALF WEIGHTING TO 2018.£2.9M GAIN IN FY 2018 WILL THEREFORE NOT RECUR IN 2019.WORKING TO ESTABLISH BREXIT PLANS WITHIN SUPPLY CHAIN DURING 2018.CONTINUES TO WORK WITH SUPPLIERS TO PROACTIVELY MANAGE BREXIT INTERRUPTION RISK.IMPACT FROM BREXIT CURRENTLY DIFFICULT TO ESTIMATE WITH COMBINATION OF DIFFERENT SCENARIOS THAT COULD OCCUR.  Full Article

Ultra Electronics completes sale of airport systems business
Friday, 1 Feb 2019 

Feb 1 (Reuters) - Ultra Electronics Holdings PLC ::HAS COMPLETED SALE OF ITS AIRPORT SYSTEMS BUSINESS TO ADB SAFEGATE FOR A TOTAL CONSIDERATION OF £22M.FURTHER DETAILS OF THE DISPOSAL WILL BE PROVIDED IN THE GROUP'S PRELIMINARY RESULTS ANNOUNCEMENT ON 6 MARCH 2019 AND IN THE GROUP'S 2018 ANNUAL REPORT & ACCOUNTS.ULTRA ELECTRONICS IS A GROUP OF BUSINESSES WHICH MANAGE A PORTFOLIO OF SPECIALIST CAPABILITIES, GENERATING HIGHLY DIFFERENTIATED SOLUTIONS AND PRODUCTS IN THE DEFENCE & AEROSPACE, SECURITY & CYBER, TRANSPORT AND ENERGY MARKETS .  Full Article

Ultra Electronics Says Tony Rice Appointed As Chair
Monday, 28 Jan 2019 

Jan 28 (Reuters) - Ultra Electronics Holdings PLC ::TONY RICE WAS TODAY APPOINTED AS CHAIR OF BOARD OF ULTRA ELECTRONICS HOLDINGS PLC.  Full Article

Ultra Electronics Names Tony Rice As Chair Designate
Tuesday, 18 Dec 2018 

Dec 18 (Reuters) - Ultra Electronics Holdings PLC ::ULTRA ANNOUNCES APPOINTMENT OF TONY RICE AS CHAIR DESIGNATE.TONY RICE WILL SUCCEED DOUGLAS CASTER, WHO INTENDS TO STEP DOWN AS CHAIR AND RETIRE FROM BOARD.  Full Article

Ultra Electronics Says FY Performance Remains In Line With Expectations
Thursday, 13 Dec 2018 

Dec 13 (Reuters) - Ultra Electronics Holdings PLC ::GROUP'S FULL YEAR TRADING PERFORMANCE REMAINS IN LINE WITH EXPECTATIONS SET AT ULTRA'S INTERIM RESULTS ON 6 AUGUST 2018.CONTINUES TO EXPERIENCE STRONG ORDER INFLOW AND REMAINS FOCUSED ON EXECUTION AND DELIVERY WHILE CONTINUING TO WIN NEW BUSINESS.EXPERIENCING INCREASED WORKING CAPITAL REQUIREMENTS, THIS IS CURRENTLY EXPECTED TO RESULT IN 2018 CASH CONVERSION IN 65%-75% RANGE.REMAINS WELL POSITIONED IN AREAS OF PRIORITY SPEND WITH SIGNIFICANT EXPOSURE TO STRENGTHENING US DEFENCE BUDGET.CONTINUED CONFIDENCE IN LONGER-TERM OUTLOOK.  Full Article

Ultra Electronics Sells Airport Systems Business For 22 Mln Stg
Friday, 2 Nov 2018 

Nov 2 (Reuters) - Ultra Electronics Holdings PLC ::DISPOSAL.PROPOSED DEAL FOR £22M.ULTRA DIVESTS ITS AIRPORT SYSTEMS BUSINESS TO ADB SAFEGATE.  Full Article

Ultra Electronics HY Underlying Pretax Profit Falls To 43.6 Mln Stg
Monday, 6 Aug 2018 

Aug 6 (Reuters) - Ultra Electronics Holdings PLC ::HY REVENUE 350.5 MILLION POUNDS VERSUS 366.4 MILLION POUNDS YEAR AGO.INTERIM DIVIDEND PER SHARE 14.6 PENCE VERSUS 14.6 PENCE YEAR AGO.HY UNDERLYING PBT 43.6 MILLION POUNDS VERSUS 52.3 MILLION POUNDS YEAR AGO.SAYS EXPECTATIONS FOR 2018 ARE UNCHANGED FROM RECENT PRE-CLOSE TRADING STATEMENT.  Full Article

Ultra Electronics Anticipates FY Group Operating Profit At Constant Currencies To Be Reduced By 4 Mln Pounds - 6 Mln Pounds
Wednesday, 27 Jun 2018 

June 27 (Reuters) - Ultra Electronics Holdings PLC ::ISSUES ITS PRE-CLOSE TRADING STATEMENT, AHEAD OF ITS INTERIM RESULTS FOR 2018.MAJORITY OF GROUP'S OPERATIONS HAVE HAD BETTER THAN ANTICIPATED ORDER INTAKE IN H1.MAJORITY OF COS OPERATIONS EXPECTED TO DELIVER H1 REVENUE, OPERATING PERFORMANCES BROADLY IN LINE WITH MANAGEMENT EXPECTATIONS.MANAGEMENT NOW ANTICIPATE EXPECTATIONS FOR GROUP'S OPERATING PROFIT AT CONSTANT CURRENCIES FOR FY TO BE REDUCED BY £4M-£6M.HERLEY CONTINUES TO BE IMPACTED BY COST OVERRUNS ON DEVELOPMENT CONTRACTS; HERLEY ANTICIPATES SOME RECOVERY IN H2.ORDER BOOK AT £972M AT MAY-END WAS STRONG WITH OPENING ORDER COVER FOR H2 EXPECTED TO BE HIGHER THAN IN RECENT YEARS.OVERALL MARKET BACKGROUND FOR ULTRA IS MORE POSITIVE, REFLECTING IN PARTICULAR IMPROVING US DEFENCE MARKET.  Full Article

Ultra Electronics Says Trading, Cash Performance Will Be More Heavily Weighted To H2
Friday, 27 Apr 2018 

April 27 (Reuters) - Ultra Electronics Holdings PLC ::GROUP'S TRADING AND CASH PERFORMANCE WILL BE MORE HEAVILY WEIGHTED TO SECOND HALF OF YEAR.SECURED HIGHER VOLUME OF ORDERS IN Q1 COMPARED TO RECENT YEARS AND THIS RESULTED IN AN IMPROVED ORDER BOOK OF £933M AT END OF MARCH 2018.CONDITIONS IN ULTRA'S MARKETS HAVE REMAINED AS NOTED ON 5 MARCH 2018 IN 2017 PRELIMINARY RESULTS ANNOUNCEMENT.  Full Article

Ultra Electronics Holdings Expects Full Year Revenue To Be Over 770 Mln Pounds
Thursday, 11 Jan 2018 

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.  Full Article

Ex-divs to take 7.97 points off FTSE 100 on Thursday

LONDON, April 8 The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect of the resulting adjustment to prices by market-makers would take 7.97 points off the index. RIC Name Dividend Stock Max Shift (pence) Alternative A