Trading Update

RNS Number : 4452P

Filtronic PLC

08 June 2015

 

Filtronic plc

("Filtronic", the "Company" or the "Group")

Trading Update

Following the end of its financial year to 31 May 2015, Filtronic plc (LSE: FTC), the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market, issues the following statement.

During the final four months of the financial year, both the Wireless and Broadband businesses traded in line with the Board's expectations as set out in the Trading Update of 3 March 2015, delivering full year unaudited revenues of £10.3m (2014: £23.1m) and £7.2m (2013: £9.7m) respectively.The Group had net cash at the year end of £0.7m.

As previously indicated, the Group has implemented a number of cost saving measures that have resulted in an annualised reduction in operating expenditure of approximately £2m. This saving has been achieved through the closure of its offices in California and reduction of headcount in the Wireless and Broadband business as well as in its head office function.

The results for the financial year ended 31 May 2015 will be announced on 21 September 2015.

Enquiries:

Filtronic plc	www.filtronic.co.uk
Howard Ford, Chairman	0113 220 0000
Rob Smith, CEO
Panmure Gordon (UK) Limited	020 7886 2500
Dominic Morley
Walbrook PR Limited	020 7933 8780 or [e-mail]
Helen Cresswell	07841 917 679
Paul McManus	07980 541 893

 

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