AIM-listed electronics manufacturer Filtronic said first half-year trading met expectations in an update issued ahead of its AGM later today.
The company, which has bases in Leeds and Sedgefield and offices in China, US and Sweden, secured its first contract wins for the new Massive MIMO antennas and won further incremental defence contracts.
It sees the mMIMO product line as a “key driver” of 4G/LTE network development over the coming years, and an important factor for future 5G networks.
The statement said the decision to combine two businesses into one consolidated unit, with separate sales organisations for the wireless telecommunications and critical communications markets, “has been implemented and is working well”.
It continued: “We continue to progress our strategy of expanding our customer base and extending the markets we serve and, whilst it will take time for the benefits of this strategy to be fully realised, we are pleased with the growing number and quality of opportunities opening up to us across both market segments.
“We are confident that our position overall continues to strengthen and our outlook remains positive.”
News source: Insider Media Ltd