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Interim Results

Filtronic swings into profit

30 January 2017 07:51

Filtronic swung into the black in the six months to the end of November posting an operating profit of £1.8m against a loss of £4.3m last time.

Revenue rose to £21.6m (H1 2016: £4.5 m) with Filtronic Wireless sales of £18.7m (H1 2016: £1.9m) and Filtronic Broadband sales of £2.9m (H1 2016: £2.6m).

The group reported an adjusted operating profit of £1.8m (H1 2016: £4.1m loss) and had net cash of £0.8m compared with net debt of £0.3m at the end of May.

Chairman Reg Gott said: "We have made good progress in a relatively short period to return the business to profitability and we are encouraged with the growing opportunity pipeline."

Story provided by StockMarketWire.com

Related Company: FTC

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