Ultra Electronics Holdings plc proposed interim dividend for the six months ended June 30, 2018 of 14.6 pence per share, will be paid on September 21, 2018 to shareholders on the register at August 31, 2018. The company paid 14.6 pence per share for the same period last year.

The company announced unaudited consolidated earnings results for the six months ended June 30, 2018. For the period, the company reported revenue of £350,510,000 against £366,392,000 a year ago. Operating profit was £30,370,000 against £25,427,000 a year ago. Profit before tax was £20,008,000 against £30,940,000 a year ago. Profit attributable to owners of the company was £15,179,000 against £26,517,000 a year ago. Diluted earnings per ordinary share were 20.0 pence against 37.5 pence a year ago. Net cash inflow from operating activities was £4,880,000 against £9,541,000 a year ago. Purchase of property, plant and equipment was £5,852,000 against £3,582,000 a year ago. Expenditure on product development and other intangibles was £3,267,000 against £1,782,000 a year ago. Earnings per share declined due to foreign exchange, lower profits and the 2017 equity raise. Capital expenditure increased to £8.1 million. This included spend on equipment required for London Heathrow Terminal 5 contract. Underlying operating profit was £47,852,000 against £57,633,000 a year ago. Underlying profit before tax was £43,645,000 against £52,355,000 a year ago. Underlying basic earnings per share were 45.1 pence against 58.3 pence a year ago. Net debt was £170,075,000 as on June 30, 2018 against £260,361,000 as on June 30, 2017. Underlying operating cash flow was £6.5 million against £30.5 million a year ago.

The company provided group tax rate and capital expenditure guidance for the year 2018. In respect of investment plans, the company's current guidance is for capital expenditure to be around £20 million, the largest element being the IT system rollouts. The group's effective tax rate is currently expected to be broadly flat.