Filtronic set to report full year growth
AIM-listed electronics manufacturer Filtronic, who have a base at NETPark, is set to report growth in turnover and profitability in its full-year results, boosted by the sale of its telecoms antenna operations.
In a trading update, the company said it expects, subject to audit, to report revenue of about £17.2m for the year ending 31 May 2020, compared to £15.9m in 2019.
An operating profit of about £400,000, up from £200,000, and adjusted earnings before interest, taxation, depreciation, amortisation and exceptional items (EBITDA) of £1.2m, up from £700,000 are also set to be recorded.
In January, Filtronic completed the sale of its telecoms antenna business for an initial cash consideration of $5.5m (£4.2m).
The company established a Covid Business Continuity Team in February to enable it to provide a fully compliant and safe working environment while maintaining full operational capacity to fulfil customer commitments.
Filtronic added: “There is considerable uncertainty in both the macroeconomic environment and the markets in which we operate.
“As the focus of concern regarding the impact of Covid-19 progressively shifts from public health to the economy, that uncertainty will increase.”
Filtronic is headquartered near Leeds and has a broadband division at NETPark in Sedgefield, County Durham.
News source: Insider Media North East
Other News
Follow NETPark On Social Media
Keep up to date with the latest NETPark news and events.
The North East Technology Park provides a dynamic and supportive environment to accelerate the growth of ambitious, innovative, high tech companies into global markets. NETPark encourages collaborative multidisciplinary links, driving innovation, enterprise and economic prosperity.
We provide companies with access to a focused and international community where talent flourishes, ideas are generated and businesses have the support and resources to compete with the best in the world.
NETPark North East Technology Park
NETPark, North East Technology Park,
Sedgefield, County Durham TS21 3FD
Call Us: (+44) 01740 625250
Email: enquiries@northeasttechnologypark.com
Web: northeasttechnologypark.com
The proximity to the universities and the infrastructure are very important factors. Ultimately having a presence in Europe is very valuable to us and we intend to stay at NETPark for many years to come.
The quality of the facilities at NETPark and the attitude of staff is first class. It has a really dynamic, innovative atmosphere.
We initially came because of the printable electronics centre but access to a highly skilled semi conductor workforce in the North East has been a key factor in us staying and growing here, as well as the value for money office space and the access to funding.
It fits perfectly for us that we’re surrounded by like-minded companies at NETPark. There are a number of highly skilled people in the area who can help us grow our business. The facilities and services offered by NETPark are first class, they make office life simple and engaging.
CPI has developed a specialist offering to support SMEs looking to develop their printable electronics applications and our partnership with Business Durham has been instrumental in attracting several SMEs to locate here in the region.
Access to quality facilities was one of the main drivers for deciding to locate the business at the NETPark. We have been able to use this as a launch pad to link into support from CPI and world-class expertise from Durham University.