Trading Update and Notice of Results

RNS Number : 5696Z

Filtronic PLC

18 December 2017

 

Filtronic plc

("the Company")

Trading Update and Notice of Results

Filtronic plc (AIM: FTC), the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market and adjacent markets, announces a trading update for the six months ended 30 November 2017.

The Company expects to report unaudited revenues for the first half of its financial year of approximately £12.8m (FY2017: £21.6m), comprising Filtronic Wireless at £11.0m (FY2017: £21.6m) and Filtronic Broadband at £1.8m (£2.9m) generating an expected unaudited operating profit of approximately £0.9m (FY2017: £1.8m) and strong cash generation with a net cash balance at the period end of £2.9m (FY2017: £0.7m). Although a reduction in performance against the comparative period last year (FY2017) it is broadly in line with our expectations and reflects our projected phasing of order fulfilment across the year, but with a slightly slower than expected ramp from our recently announced defence contract wins which has pushed the first volume deliveries out of H1 and into H2.

Rob Smith, CEO, said "As stated in previous announcements, sales are expected to continue to be lumpy until we further broaden our customer base and the markets we serve. However, we are pleased with order intake and new contract wins in both businesses during the period, which support our strategic development goals".

Notice of results

It is expected the Company will publish its half year results on 30 January 2018.

Enquiries:

Filtronic plc	Tel. [phone]
Rob Smith (CEO)
Michael Tyerman (FD)
Maura Moynihan (Company Secretary)	Tel. [phone]
Panmure Gordon (UK) Limited	Tel. [phone]
Dominic Morley / Alina Vaskina (Corporate Finance) Erik Anderson / Tom Salvesen (Corporate Broking)
Walbrook PR Limited	Tel. [phone] or [e-mail]
Paul Cornelius Helen Cresswell	Mob. [phone] Mob. [phone]

Notes:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

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