Updates

Ultra Electronics - Goldmans have 1790p price target

October 2011

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.

Fears about possible cut backs in US and European Government defence expenditure have dented the whole defence / electronics sector and Ultra's shares have not been immune. However management stress that its niche markets, with their focus on fast growing areas of battlespace IT equipment and communications, have shown resilience. The highlight from its latest half-year results in which revenues fell 2% to Â£343m while pretax profit rose 10% to Â£52.1m, was the order book growing 26% to Â£1.032bn. Net debt was just Â£10m.In its tactical & sonar side (anti-submarine warfare systems, sonobuoys and underwater surveillance) sales fell nearly 5% to Â£148m but rising margins helped operating profit increase 6% to Â£29.6m. The long w ...

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H&T - Brokers upgrade again

Enquest

Ultra Electronics (October 2012)

Ultra Electronics - Goldman Sachs has Â£22 price target (May 2012)

Ultra Electronics - Eps enhancing acquisition (February 2012)

Ultra Electronics - Swings into net cash (May 2011)

Ultra Electronics - Huge reduction in net debt (October 2010)

Ultra Electronics -Reassures on US, UK defence budgets (June 2010)

Ultra Electronics -Shares above Â£15 for first time (April 2010)

Ultra Electronics - Defence electronics firm boasts fabulous 13 year record (January 2010)

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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