Electronics firm Filtronic announces ‘robust’ result predictions

AIM-listed electronics manufacturer Filtronic has confirmed that it is expecting to post revenues of £35 million for its financial year.

The Leeds-headquartered business designs and manufactures microwave electronics products for wireless telecoms infrastructure projects expects to report revenue of approximately £35.4m, more than double 2016’s total of £13.6m, following its audit.

The results for the financial year ended 31 May 2017 will be announced on 1 August, but Filtronic believes that it has recorded operating profit before amortisation of intangibles of approximately £1.7m, an increase on a £6.8m operating loss last year.

The group’s successes have largely been down to the Filtronic Wireless business, which has more than tripled sales revenue in the year to £30.5m.

The final quarter of 2017 included a strong recovery of filter products revenue with customers from the telecommunications infrastructure and public safety communications industries.

The business anticipates that the level of activity seen in the fourth quarter of FY2017 will continue into the first quarter of FY2018.

Rob Smith, chief executive of Filtronic, said: “Tremendous progress was made through FY2017 that has resulted in the Group achieving both profitability and cash generation.

“We are mindful that our revenues have historically been very concentrated and we are working hard to broaden our customer base and product range so that the business is more robust”.