Filtronic PLC
29 September 2000
FILTRONIC PLC
CHAIRMAN'S AGM STATEMENT
Filtronic plc, a leading international designer and manufacturer of microwave
and millimetre wave products for global wireless and cable telecommunications
systems and electronic warfare, held its Annual General Meeting earlier today
in Bradford.
Chairman David Rhodes made the following remarks to shareholders:
'The Company's trading performance in the first quarter of the current
financial year has been broadly in line with expectations. In the area of
wireless infrastructure we are experiencing an increase in demand, both in
Europe and the USA, which we expect will be sustained throughout the year and
beyond.
'Good progress is still being made at our new compound semiconductor facility
in Newton Aycliffe in completing the process necessary for production. As
previously stated, there will be no significant sales in the first half of the
current financial year and the key factor will be the rate of growth of sales
during the second half. Several products are currently being developed and
qualified, mainly for the mobile handset market.
'Investment is continuing in the development of power amplifier devices for
base stations. A product has already been demonstrated with an efficiency
three times greater than competing products and this provides the Company with
confidence that substantial sales opportunities will materialise within the
next twelve months.
'Overall, there is an increase in demand for the products the Company
manufactures and sells, providing the Board with confidence that Filtronic
will continue to have substantial growth.'
Enquiries:
Professor David Rhodes Chairman & Joint CEO
Professor Chris Snowden Joint CEO
Chris Schofield Company Secretary
Filtronic plc Tel: 01274 530622
Peter Binns
Mike Tate
Binns & Co Tel: 020 7786 9600
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