Ultra Electronics Holdings Plc (LON:ULE), the international defence, security, transport and energy group, today issues a Trading Statement ahead of its year end on 31 December 2018.
The Group’s full year trading performance remains in line with expectations set at Ultra’s interim results on 6 August 2018. Ultra continues to experience strong order inflow and remains focused on execution and delivery while continuing to win new business.
As previously guided, the Group is experiencing increased working capital requirements arising mainly from the higher order book, underlying revenue growth and a constrained supply chain. This is currently expected to result in 2018 cash conversion in the 65%-75% range.
The Group remains well positioned in areas of priority spend with significant exposure to the strengthening US defence budget; this gives continued confidence in the longer-term outlook.
Ultra Electronics preliminary results for the year ending 31 December 2018 will be announced on 6 March 2019.
