REG - Filtronic PLC - Trading Update and Notice of Results <Origin Href="QuoteRef">FTC.L</Origin>

FiltronicAnnouncement

18/12/2017 07:05

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. 0113 220 0000
Rob Smith (CEO)
Michael Tyerman (FD)
Maura Moynihan (Company Secretary)
Tel. 01274 535 619
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
Helen Cresswell
Mob. 07866 394 707
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
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