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Highlights

  • Spirent Communications saw a 20.1% year-on-year decline in its top-line business from USD 10 million in H1 FY22 to USD 223.90 million in H1 FY23.
  • Its adjusted profit before tax decreased from USD 49.20 million in H1 FY22 to USD 14.80 million in the first half of FY23, marking a 69.9% fall over the period.
  • The company concluded FY23 with a cash position of USD 103 million, mainly becaue of an effective working capital management.

FTSE 250-listed Spirent Communications PLC (LSE: SPT) offers automated test and assurance solutions for next-gen devices and networks.

The company saw a 20.1% year-on-year (YoY) decline in its top-line business from USD 280.10 million in H1 FY22 to USD 223.90 million in the first half of the fiscal year 2023. Also, its adjusted profit before tax decreased from USD 49.20 million in H1 FY22 to USD 14.80 million in H1 FY23, marking a 69.9% fall over the period.

For the full fiscal year 2023, SPT posted a revenue of USD 474 million and an adjusted operating profit of USD 45 million. The company concluded the year with a cash position of USD 103 million, mainly becaue of an effective working capital management.

An interim dividend of US 2.76 cents per share was paid by the firm in September 2023. The company’s annualized dividend yield was 5.60%, as per the closing of the stock price on 23 February 2024.

Since the end of FY22, SPT’s orderbook has witnesed a 5% increase to USD 303.40 million.

 

Top 10 Shareholders:

Around 62.61% of the total shareholdings is held by its top ten shareholders. While Aviva Investors Global Services Limited is the biggest shareholder with maximum stake of 10.35%, Columbia Threadneedle Investments (UK) is the second-biggest shareholder with over 9.91% shareholding in SPT.

 

Stock Price Performance

SPT’s stock price has dropped 9.62% in the last one month. It has fallen by over 24% in the last six months. The stock’s 52-week low and high price stand at GBX 79.75 and 227.00, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 23 February 2024. The reference data in this report has been partly sourced from EODHD/Others.