Aug 02nd 2012 - Edison Investment Research today published a report on Ultra Electronics Holdings (ULE.L, LSE:ULE, LON:ULE) entitled "Generating Solid Returns". In summary, the report says:
Despite a challenging defence environment that has seen organic growth slow and turn negative in the short term, Ultra Electronics has demonstrated that its balanced strategy of organic and acquisitive growth can generate sustainable returns whatever the environment. This has been achieved over a track record of 15 years, during which time total shareholder returns have increased by c 15% CAGR pa. With a distinct business and operating model based on devolved and entrepreneurial management, we believe the group has the agility to outperform even in this challenging market. This is achieved through positioning for long-term requirements and an increasing exposure to the growing cyber security and transport markets.
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