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Filtronic boosts earnings expectations in the wake of SpaceX deal

Product development and manufacturing capabilities have been ramped up at the northern firm in order to supply its US customer

Filtronic building

Trading is ahead of expectations at communications tech firm Filtronic on the back of a major supply deal with Elon Musk's SpaceX.

The County Durham and Leeds-based operator told investors adjusted Ebitda has been ahead of market forecasts as it expects to report full year totals at "no less than" £4.8m, up from £1.3m last year. Revenue is expected to be £25.4m, up from £16.3m last year.

Meanwhile net cash at the end of May was £5.2m, up from £2.4m at the end of November last year. Bosses said the firm has scaled up significantly in the second half of its 2024 year thanks to strong demand - particularly across the low earth orbit satellite market in which it specialises - and thanks to increased appetite from western governments for defence tech in the midst of global threats.


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