County Durham tech manufacturer Filtronic plc has announced a new deal with Elon Musk's SpaceX firm worth £16.8m.
The Sedgefield company, which designs and manufactures products for the aerospace, defence, space and telecoms infrastructure markets, said the new contract with the company will be fulfilled over the next two financial years.
In a short update to shareholders announcing the contract, the board said it is now confident the business will exceed current market expectations for revenue and profit in FY2025 and FY2026. Shares rose more than 10% to 102.2p in early trading following the announcement.
