Filtronic PLC
07 December 2007
Filtronic plc
Trading update for 6 months ended 30 November 2007
Filtronic plc today provides its trading update for the 6 months ended 30
November 2007.
The group is expected to have returned to profitability and to have been
operationally cash neutral.
Point to Point delivered a substantial increase in revenue. Compound
Semiconductors benefited from the previously announced additional short term
switch volume. Defence remained steady.
Disposal of the US Defence business was completed in October. The initial
consideration received was $3.4m and a further deferred consideration of up to
$1.5m is due in the first quarter of 2009. The sale of the Waterfront property
was completed in November generating proceeds of £5.9m, equivalent to book
value.
The enhanced transfer value pension offer to deferred members, referred to in
the Preliminary results in July, will be finalised in early December at an
estimated cost of £6m.
The cash balance at 30 November was £117m with £0.8m to be paid in early
December to conclude this pension transfer offer.
The interim results are scheduled for release on Monday 21 January 2008.
Contact details
Filtronic plc:
John Poulter, Chairman 01274 415 306
Charles Hindson, Chief Executive 07800 706 319 (mobile)
Parkgreen Communications Ltd 020 7479 7933
Paul McManus 07980 541 893 (mobile)
paul.mcmanus@parkgreenmedia.com
This information is provided by RNS
The company news service from the London Stock Exchange BPTMMIMBFR
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