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Spirent looks to 5G to maintain momentum as profits jump by third

The roll-out of 5G will give demand a further boost in 2019

ethernet cables
Ever faster internet speeds are driving growth at Spirent

A big US GPS order and demand for high-speed broadband connectors helped Spirent PLC’s (LON:SPT) profits rise by a third in 2018.

The roll-out of 5G will give demand a further boost in 2019 said Spirent, which specialises in internet networking equipment.

READ: Spirent Communications shares jump as it expects full-year profit to beat market forecasts

Orders and revenue from the ongoing businesses increased 6% year-on-year said Eric Hutchinson, who is set to retire as chief executive after 36 years at the firm once a successor is identified.

Profits rose by 31% to £61.2mln in 2018 on turnover of £470mln.

The dividend rises by 10% to 4.4p but last year’s specials was not repeated.

Shares rose 3% to 155p, close to their all-time high.

Quick facts: Spirent Communications

Price: 215.5 GBX

LSE:SPT
Market: LSE
Market Cap: £1.32 billion
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