March 5, 2018 / 7:20 AM / 8 months ago

BRIEF-Ultra Electronics Holdings Says Sparton Merger Terminated​

March 5 (Reuters) - Ultra Electronics Holdings Plc:

* TOTAL DIVIDEND 49.6 PENCEPER SHARE

* ‍PROPOSED FINAL DIVIDEND IS 35.0P, BRINGING TOTAL DIVIDEND FOR YEAR TO 49.6P​

* FY REVENUE ‍775.4​ MILLION POUNDS VERSUS 785.8 MILLION POUNDS

* FY UNDERLYING PROFIT BEFORE TAX 110.0 MILLION POUNDS VERSUS 120.1 MILLION POUNDS

* ‍SPARTON MERGER TERMINATED​

* ‍2018 EFFECTIVE TAX RATE IS EXPECTED TO BE BROADLY FLAT ON 2017​

* ‍£134M SHARE BUY-BACK TO BE IMPLEMENTED​

* ‍US NAVY INDICATED IT IS NOW CONSIDERING WAYS TO INCREASE COMPETITION IN SONOBUOY PROCUREMENT PROCESS OVER TIME, INCLUDING BETWEEN ULTRA AND SPARTON​

* ‍DOJ HAS STATED THAT IT INTENDS TO TAKE STEPS TO OPEN AN ANTITRUST INVESTIGATION INTO ERAPSCO JV​

* ‍SEARCH FOR A NEW CHIEF EXECUTIVE IS WELL UNDERWAY​

* ‍GROUP CURRENTLY EXPECTS TO FACE A FOREIGN EXCHANGE HEADWIND IN 2018​

* BOARD’S EXPECTATIONS REMAIN FOR GROUP TO MAKE MODEST PROGRESS IN UNDERLYING REVENUE AND OPERATING PROFIT AT CONSTANT CURRENCIES IN 2018​

* ‍2018 EFFECTIVE TAX RATE IS EXPECTED TO BE BROADLY FLAT ON 2017.​

* EXPECTATIONS REMAIN FOR GROUP TO MAKE MODEST PROGRESS IN UNDERLYING REVENUE AND OPERATING PROFIT AT CONSTANT CURRENCIES IN 2018​ Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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