Share Price 2096.00p change of 20.00p
Friday 28 April 2017 16:35PM
Ultra, the international defence, security, transport and energy company, today holds its Annual General Meeting at 10.00 a.m. and provides the following scheduled brief trading commentary.
2016 was a better year for Ultra. Our focus on the execution and delivery of the goals we had set for ourselves has resulted in a positive momentum, enabling us to report good progress against our KPIs. Strong performances in cash generation and order intake demonstrate the underlying robustness of the business. Delays to the award of a small number of expected export contracts affected short-term organic revenue. Organic profit growth reflects our disciplined approach to cost control.
Ultra Electronics announced today that it has signed a Memorandum of Understanding with CGN of China that will see both companies co-operate more closely in the field of high integrity instrumentation and control (I&C) systems and sensors for civil nuclear power within China, the UK and other international markets. The agreement covers collaboration on next generation I&C systems including reactor protection and control.
The UK has today reaffirmed its position as a key player in a new generation of Small Modular Reactors (SMRs). Dorset-based Ultra Electronics, Nuclear Control Systems successfully conducted the acceptance testing of the innovative NuScale Power Module™ protection system it is developing for leading U.S. SMR developer NuScale Power.
Ultra Electronics congratulates NuScale Power, it’s Small Modular Reactor (SMR) partner, on achieving a significant milestone in its submission of the first-ever SMR design certification application (DCA) to the US Nuclear Regulatory Commission (NRC).
Ultra Electronics announced today that its Command & Sonar Systems sonobuoy facility, based in Greenford, Middlesex, has been awarded a £9.7m contract extension for the supply and production of sonobuoys for the Royal Navy’s Merlin Mk2 Maritime Patrol Helicopter fleet.
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