Spirent bullish as ups dividend

Telecoms testing firm Spirent Communications posted nine per cent higher 2009 pre-tax profit after operators resumed investing in networks in the fourth quarter, and said it made a solid start to 2010.

Shares in the firm have more than trebled from lows reached in January 2009. Adjusted earnings per share of 6.91p beat expectations by five per cent. Spirent reported pre-tax profit of £54.1m on revenue six per cent higher at £272.1m. Operating profit was 14 per cent higher at £55.3m, and the firm increased its total dividend by 10 per cent to 1.21p a share.