Spirent Communications dials up profits

Telecoms testing company Spirent Communications (LON:SPT) has seen its share price rise by 3.31% to 156.20p (as of 15:35 GMT) after it reported a 31% increase in profits before tax. Revenues climbed by 5% and adjusted operating margins improved by 320 basis points.

CEO Eric Hutchinson said: “We are delighted to see our previously communicated strategy in action, delivering on Spirent’s potential as we continue to maintain market leadership in our major revenue streams and continue to develop solutions to match new growth drivers such as 5G.

“We remain well positioned for future growth, enabling our customers to accelerate time to market and increase their service quality at lower operating costs and we are confident for further progress in the year ahead“.