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    ULE   GB0009123323

ULTRA ELECTRONICS HOLDINGS PLC

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Ultra Electronics : awarded ú31m three-year follow-on sonobuoy capability contract by UK MOD

03/24/2021 | 05:26am EDT

Ultra announces that its Sonobuoy Systems business has been awarded a further three-year contract, worth £31 million, with the UK MOD. Ultra will continue to supply sonobuoys for the Royal Navy's Merlin Maritime Patrol Helicopter from 2022 to 2024.

The contract between Ultra and the MOD comes at an important time, boosting both the economy and jobs in the UK.

The contract for sonobuoy engineering, manufacturing, logistics and support from Ultra, ensures the Royal Navy maintains a persistent Anti-Submarine Warfare surveillance capability against hostile submarines.

Eric Webster, President, Ultra Sonobuoy Systems commented: 'I am very excited and appreciate the Royal Navy choosing Ultra for this three-year follow-on Sonobuoy Contract. We look forward to working with the Defence Equipment & Support Merlin Delivery Team to supply and support cutting edge, affordable and valuable anti-submarine (ASW) solutions. This investment by the Ministry of Defence enables the UK's Armed Forces to deal with modern and evolving submarine threats.'

Ultra provides cutting edge Sonobuoy technology to the Royal Navy, built in its UK factory. These Sonobuoys are essential for Merlin Helicopters to provide Anti-Submarine defence of UK Homewaters, the Nuclear Deterrent, and Queen Elizabeth Class Aircraft Carriers.

END

Enquiries:

Ultra

Ruppel Joshi, Marketing Manager

+44 (0) 1628 538 353

ruppel.joshi@ultra-css.com

www.ultra.group

Disclaimer

Ultra Electronics Holdings plc published this content on 23 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2021 10:26:02 UTC.


ę Publicnow 2021
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Sales 2021 865 M 1 196 M 1 196 M
Net income 2021 77,2 M 107 M 107 M
Net Debt 2021 62,9 M 86,9 M 86,9 M
P/E ratio 2021 28,8x
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Nbr of Employees 4 253
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Last Close Price 3 110,00 GBX
Average target price 2 554,44 GBX
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Simon Charles Conrad Pryce Chief Executive Officer & Director
Mark Josceline Sclater Chief Financial Officer & Director
William Anthony Rice Chairman
Andrew Puryear Chief Technology Officer
Carlos Santiago Chief Operating Officer