Telecoms tech company Filtronic poised to post 50% jump in profits despite global chip shortage
North tech manufacturer Filtronic is poised to report a 50% boost in profits despite the challenges of the global semiconductor shortage.
The electronic component manufacturer, with bases in NETPark, County Durham, Yeadon in Leeds and Maryland, US, says trading in the second half of the year was 13% higher than the first, helping to drive up revenue 10%, to an expected £17.1m, up from £15.6m.
In a trading update ahead of its results, directors said a strong sales mix and tight cost controls will result in adjusted Ebitda being materially ahead of forecasts, at no less than £2.7m, up from £1.8m.
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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
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.
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.
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.
The quality of the facilities at NETPark and the attitude of staff is first class. It has a really dynamic, innovative atmosphere.
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.
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.