Update: Steady as she goes
In common with its peers, Ultra Electronics is benefiting from the improved outlook for defence spending, enabling it to significantly outperform in the recent market downturn. FY15 results are a reminder of the deferred nature of budgetary decisions, with recent constraints still flowing into performance. These should now start to gradually release, allowing organic growth to accelerate modestly from FY17e augmented by M&A.Ultra Electronics Holdings is a holding company. Through its subsidiaries, Co. is engaged in the design, development and manufacture of electronic systems for the international defence and aerospace markets. Co. manages a range of capabilities, generating solutions and products in the Defence & Aerospace, Security & Cyber, Transport and Energy markets. Co. is organized into three operating segments – Aerospace & Infrastructure, Communications & Security and Maritime & Land.
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