Ultra Electronics sees tough UK and US defence markets
Ultra Electronics, the technology company with interests in defence, transport and energy, says it will continue to face strong headwinds from both the US and UK defence market.
Ultra Electronics, the technology company with interests in defence, transport and energy, says it will continue to face strong headwinds from both the US and UK defence market.
In an update today the firm says: "In the US, it is anticipated that political brinkmanship on budgets will continue through 2012".
Ultra also notes the UK Ministry of Defence is redesigning its procurement process, while in both markets: "government agencies are delaying the start of new programmes and incrementally funding existing ones."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Over the first four months of 2012 Ultra says performance has been "in line" with expectations although does not reveal actual numbers.
Recent contract wins include agreements to provide specialist nuclear sensors for Areva and Westinghouse at nuclear power station projects in the USA, China and Sweden.
Ultra has been a solid performer on the FTSE 250 for some time, rising 3% in the last 12 months, up 16% since the beginning of this year.
BS
-
The 30 house price hotspots
While we have seen house prices sliding, these sought-after locations have seen prices jump by at least 5% over the previous 12 months
By John Fitzsimons Published
-
Working parents will be entitled to 15 hours free childcare for two-year-olds from next year
The government has extended free childcare hours to working parents of two-year olds but it won’t be automatic so make sure you don’t miss out
By Marc Shoffman Published