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Ultra Electronics H1 Profit Rises

Ultra Electronics Holdings plc (ULE.L) reported higher profit for the first-half period ended July 2, 2021, reflecting record order book and very strong order cover. The company also witnessed improved operating margin and "excellent cash conversion."

The company's 6-month statutory profit before tax was £46.2 million or 52.9p per share compared to £29.8 million or 34.2p per share last year.

Underlying profit before tax rose to £56.5 million or 65.2p per share from the previous year's £47.9 million or 54.7p per share.

Meanwhile, revenue for the period declined 2.1% to £404.5 million from £413.1 million generated a year ago.

Order book increased 8.3% to £1.27 billion from £1.17 billion reported in the prior year period.

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