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.
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Steady as she goes
- Published:
29 Feb 2016 -
Author:
Andy Chambers -
Pages:
6
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.