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Ultra Electronics sees higher-than-usual defence orders in 2nd half
April 30, 2014 / 6:31 AM / 4 years ago

Ultra Electronics sees higher-than-usual defence orders in 2nd half

April 30 (Reuters) - British defence contractor Ultra Electronics Holdings Plc said defence orders and revenue in the second half would be higher than usual.

The company, which makes gunshot detection equipment and sonars for submarines, said it expected improvement in procurement process after U.S. defence priorities become clearer in 2014.

Ultra, whose sonobuoys are being used to search for the missing Malaysia Airlines Flight MH370’s black box, said its expectations for the full year remained unchanged even as a strong sterling continued to weigh on its earnings. (Reporting by Tasim Zahid in Bangalore; Editing by Gopakumar Warrier)

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