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Ultra Electronics -Reassures on US, UK defence budgets

June 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ULE
  • Price:
  • 1628p
Ultra spiked to a new high of 1628p after a reassuring trading update for the quarter to 22 April. In spite of concerns over budget belt tightening, Ultra reassured that its main US and UK military markets have defence budgets sufficiently large and its revenues continue to grow  in line with expectations. The order book provides its customary level of visibility with firm order coverage for the next 12 months above 60%.  Ultra has also won three new contracts, while its balance sheet remains strong.Tipped in January at 1316p the shares have gained 24%. Hold for more. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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