Diverse defence helps Ultra thrive

By Daily Mail Reporter
Updated: 03:33 EST, 3 August 2010

 

Defence engineer Ultra Electronics reported rising profits and insisted that demand from outside traditional Western markets would help make up for looming government spending cuts.

Half-year pretax profit at ultra, which makes parts for cockpits and torpedo detectors for the royal navy, was 18% ahead of last year at £47.6m.

Chief executive Douglas Caster said the firm's diverse product range would help offset defence budget cuts in its two key markets in the us and uK.

Shares in Ultra Electronics rose 34p to 1,647p.