Spirent Communications boosted by annual results

FTSE 250 telecoms company Spirent Communications (LON:SPT) saw its share price climb by 8.12% to 229.75p (as of 14:30 GMT) after pre-tax profits for the year ended 31st December shot up by 46.4%. Revenues rose by 5.6% as the company won new US defence contractors.

CEO Erik Updyke commented: “As I complete my first year with Spirent, I’m delighted with the progress we have made and remain optimistic about our ability to seize opportunities and ensure we are well positioned for continued sustainable, profitable growth. We have a world class customer base that trusts us and respects our expertise. We have market-leading technology in which we continue to invest and innovate and our strong financial platform affords us great flexibility to evolve and grow our business.

“We have also further strengthened our leadership team during the year, adding more expertise and new energy to an already excellent talent base. This team will execute our strategy with a focus on three key pillars: Customer Centricity, Innovation for Growth and Operational Excellence.

“Overall, we are confident in our ability to continue to add value to each of our stakeholders, our customers, our investors and our people”.