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Trading statements

Filtronic trading strongly

05 December 2016 07:35

Filtronic says it traded strongly in the first half of its financial year and expects to report unaudited revenues for the period of £21.6m (FY2016: £4.5m), comprising Filtronic Wireless at £18.7m (FY2016: £1.9m) and Filtronic Broadband at £2.9m (FY2016: £2.6m).

The net cash balance at the period end was £0.7m (FY2016: net debt of £0.4m). Filtronic says the improved financial performance was primarily driven by increased sales of its new ultra wide band integrated antennas to its lead customer, following the successful product launch in FY2016, together with improving demand for its mmWave backhaul products and base-station filters.

An update says: "As noted in the trading statement made on 29 September 2016, whilst the Board is pleased with the progress made and remains confident on the long-term prospects for the business, it remains mindful that sales are currently concentrated on a small number of customers. Roll-out programmes for wireless infrastructure projects are naturally very lumpy and we expect that visibility on the pattern of customer orders will be limited until our antenna products gain greater traction across the broader market."

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