Ultra Electronics announces 15% year on year growth
UK defence specialist, Ultra Electronics Holdings has announced a full year pre-tax profit of £102.7million, a 15% increase over the previous year's £89.5m.
According to Ultra, the growth was due to a strong demand for nuclear sensors and systems in the defence, aerospace and civil sectors. It added that spending in countries such as Australia, Turkey and the Middle East was on an upward trend.
"An increasing proportion of defence and security budgets is being spent on electronics and Ultra should benefit from this trend," said the company in a statement.
