Plus   Neg

Spirent Reports Profit In FY17; Revenue Up 2.4% Excl. Connected Devices

Spirent Communications Plc (SPT.L,SPM) reported profit before tax of $46.6 million for the financial year ended 31 December 2017 compared to a loss of $46.0 million, previous year. Profit per share was 4.71 cents compared to a loss of 6.93 cents. Adjusted profit before tax increased to $59.2 million from $44.2 million. Adjusted basic earnings per share was up 43 percent at 7.55 cents compared to 5.29 cents, prior year.

Fiscal year revenue was $454.8 million compared to $457.9 million, prior year. Order intake was $447.8 million compared to $471.7 million. Overall, Group revenue was broadly level compared to last year and up 2.4 percent excluding Connected Devices, which continues to be managed carefully during the decline of the wireless device testing market. Continuing Group revenue, excluding the DI and DT businesses divested at the end of the first half of 2017, increased 1 percent.

The Board recommended the payment of a final dividend for 2017 of 2.40 cents (1.73 pence) per share which, together with the interim dividend of 1.68 cents (1.27 pence) per share paid in September 2017, brings the full year dividend to 4.08 cents (3.00 pence) per share. This is a 5 percent increase in the full year dividend for 2017 compared to full year 2016. The Board has decided to recommend a special dividend of 5.00 cents (3.60 pence) per share.

Subject to approval by shareholders at the Annual General Meeting on 2 May 2018, the final and special dividends will be paid on 4 May 2018 to shareholders on the register at 16 March 2018.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Saudi Arabia's oil major Aramco is reportedly planning to list its much hyped initial public offering on the Saudi stock market, Tadawu only. Earlier, the Dhahran-based Saudi Arabian national petroleum company was planning for a wider international listing. Following a disastrous week of public-relations fiascoes involving transportation of pets, United Airlines said Tuesday it is suspending its Petsafe program with immediate effect. PetSafe is United Airlines' specially designed program for transporting animals that are not eligible to travel in the aircraft cabin. The program offers airport-to-airport travel for animals to nearly 300 destinations. Chipotle Mexican Grill, the Mexican food-chain that continues to struggle from its food-borne illness scandal, on Tuesday said it has appointed Chris Brandt as its new Chief Marketing Officer to replace Mark Crumpacker, who resigned last week. Most recently, Brandt worked at Bloomin' Brands, where...
comments powered by Disqus
Follow RTT