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Annual Results

Filtronic losses narrow

02 August 2016 08:08

Filtronic posts a pre-tax loss of £7.0m for the year to the end of May - down from £11.0m last time.

Sales revenues fell to £13.6m from £17.5m while operating losses before amortisation of intangibles, exceptional items and R&D development cost capitalisation and amortisation narrowed to £6.8m from £8.1m.

Chairman Reg Gott said: "The market outlook for mobile telecommunications infrastructure remains positive with the demand for mobile data continuing to grow. We were delighted with the recently announced contract wins in both of our businesses, which along with a growing opportunity pipeline, validates our strategy to return the business to profitability. We will continue our focus on addressing demand volatility by broadening both our customer base and our product portfolio in order to increase our options for growth and reduce our dependency on a narrow customer base."

At 8:08am: (LON:FTC) Filtronic PLC share price was -0.88p at 12.75p

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