Spirent Communications PLC (SPT.LN) Tuesday reported a steep rise in full-year net profit and said it plans to cut costs by GBP8.2 million in 2009.

"The company benefited from favorable exchange rates and a reduced number of issued shares," Chairman Edward Bramson said.

Net profit for the year to Dec. 31 more than tripled to GBP74.8 million from GBP17.6 million last year. The rise was largely as a result of an exceptional tax credit of GBP25.6 million in relation to an overseas tax position.

Revenue rose 8.8% to GBP257.9 million compared with GBP237 million last year. This beat a company consensus of six analysts which forecast revenue at GBP251 million.

The company, which tests the performance of broadband, telephony and mobile networks for companies including Motorola Inc. (MOT), Verizon Wireless and Cisco System Inc (CSCO), said it proposes a final dividend of 0.6 pence per share which will result in a total dividend for the year of 1.1 pence per share.

Spirent shares closed Monday at 37 pence.

Company Web site: www.spirentcom.com

-By Erica Herrero-Martinez, Dow Jones Newswires; 44 20 7842 9353; erica.herrero-martinez@dowjones.com