REG - Filtronic PLC - AGM Statement & Notice of Interim Results

FiltronicAnnouncement

27/10/2022 07:00

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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
                                                                      (mailto: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 or filtronic@walbrookpr.com

                                                                    (mailto:filtronic@walbrookpr.com)
 Paul Vann/Nick Rome

 

Note: This announcement contains inside information which is disclosed in
accordance with the Market Abuse Regulation.

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