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Ultra Electronics record flat year-to-date revenue performance
StockMarketWire.com
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Defence contractor Ultra Electronics said it had recorded flat revenue growth so far in 2021 and continued to forecast 'another year of good progress'.
Maritime revenue was marginally behind the prior year, mainly due to pandemic driven milestone delays as well as some short-term supply chain and productivity issues.
Intelligence and communications, meanwhile, delivered 'strong' revenue growth well ahead of the prior year.
Sales in critical detection and control declined relative to the same period in 2020 due to global weakness in commercial aerospace.
'Operating performance is progressing largely as anticipated and our focus; fix; grow transformation is on track,' Ultra said.
'Cash generation remains robust.'
Story provided by StockMarketWire.com
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