Filtronic PLC AGM Statement & Notice of Interim Results (2564E)
27 October 2022 - 5:00PM
UK Regulatory
TIDMFTC
RNS Number : 2564E
Filtronic PLC
27 October 2022
27 October 2022
Filtronic plc
(the "Group" or "Filtronic")
AGM STATEMENT AND NOTICE OF RESULTS
Filtronic plc (AIM: FTC), the designer and manufacturer of
products for the aerospace, defence, telecoms infrastructure and
critical communications markets is pleased to provide the following
update ahead of its Annual General Meeting being held later today
at 11.00am.
The Group's trading performance in the opening months of FY2023
is in line with internal forecasts. As anticipated, the
industry-wide shortage of critical semiconductor components has
continued to hamper full output during the trading period, but we
expect this situation to ease as we move through calendar year
2023. With our healthy orderbook, we remain confident of delivering
results for the full financial year in line with market
expectations.
We remain focussed on the development of our four strategic
markets of aerospace, defence, telecommunications infrastructure
and space and in September we were pleased to open our Manchester
engineering design office to support this. The continued investment
in research and development has delivered promising results in next
generation E-band and W-band chipsets which are showing promising
results, and in turn increases confidence in successful execution
of our technology roadmap.
Momentum is building in the rollout of 5G telecommunication
infrastructure, with India the latest country to licence E-band
frequencies for RF backhaul applications, where our Morpheus
transceiver provides the highest power levels in the industry.
Tensions in the geo-political landscape, are driving elevated
defence and aerospace spending commitments associated with aircraft
radar systems and battlefield communications. Our recent investment
to strengthen the direct channels to market is delivering an
increased level of engagement with the major defence contractors
who need to maintain a sovereign design and manufacturing
capability.
The opportunities for RF communications in the emerging Low
Earth Orbit ("LEO") space market are developing rapidly and we
continue to build strong relationships with the industry primes
looking to adapt terrestrial telecommunications technology for
commercial satellite applications.
Filtronic will announce its half-year results for the six months
ended 30 November 2022 on 7 February 2023.
Enquiries:
Filtronic plc Tel. 01740 618800
or investor.relations@filtronic.com
Richard Gibbs (Chief Executive Officer)
Michael Tyerman (Chief Financial Officer
and Company Secretary )
Tel. 020 7220 0500
finnCap Limited
Jonny Franklin-Adams/ George Dollemore (Corporate Finance)
Alice Lane / Sunila de Silva (ECM)
Walbrook PR Limited Tel. 020 7933 8780
Paul Vann/Nick Rome or filtronic@walbrookpr.com
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END
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