Filtronic PLC Trading Update and Notice of Results (5696Z)
18 December 2017 - 6:00PM
UK Regulatory
TIDMFTC
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 GBP12.8m (FY2017:
GBP21.6m), comprising Filtronic Wireless at GBP11.0m (FY2017:
GBP21.6m) and Filtronic Broadband at GBP1.8m (GBP2.9m) generating
an expected unaudited operating profit of approximately GBP0.9m
(FY2017: GBP1.8m) and strong cash generation with a net cash
balance at the period end of GBP2.9m (FY2017: GBP0.7m). 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. 0113 220 0000
Rob Smith (CEO)
Michael Tyerman (FD)
Maura Moynihan (Company Tel. 01274 535 619
Secretary)
Panmure Gordon (UK) Limited Tel. 020 7886 2500
Dominic Morley / Alina
Vaskina (Corporate Finance)
Erik Anderson / Tom Salvesen
(Corporate Broking)
Walbrook PR Limited Tel. 020 7933 8780 or
filtronic@walbrookpr.com
Paul Cornelius Mob. 07866 394 707
Helen Cresswell Mob. 07841 917 679
Notes:
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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