Spirent plc, the international network technology company announces its audited Preliminary Results for the year ended 31 December 2000. Communications group increased turnover by 152% to GBP289 million (1999 GBP115 million) and operating profit* by 129% to GBP99 million (1999 GBP43 million). Organic growth was 73% and 68% respectively.
72 per cent of continuing operating profit* generated by Communications group (1999 51% 1998 30%).
Record investment in new product development of GBP60 million – 9% of turnover (1999 GBP39 million – 7%, 1998 GBP27 million – 6 %).
Systems group profit impacted by continued investment in aerospace software development and on-going rationalisation among aviation customers. First deliveries made of new commercialised aviation software.
Return on sales* increased by 3.3 percentage points to 19.8% (1999 16.5%).
Performance of Zarak Systems (acquired in September) and Hekimian Laboratories (acquired in December) in line with expectations.
Commenting on the results, Nicholas Brookes, Chief Executive, said:
Spirent’s outstanding performance has been achieved through the excellence of our innovative technology and our presence in the sweet spot of the telecom market.
Our communications business has shown encouraging growth for the first two months of this year, despite the well publicised telecom industry uncertainties.
We believe our customers will concentrate increasingly on next generation high speed networks to remain competitive. We are uniquely positioned to meet their critical needs on a global basis, with our extensive suite of leading edge communications testing products and monitoring systems.
Therefore, we expect Spirent to continue to outperform.
