Broadband business lets Filtronic down
Manufacturer Filtronic is on track for impressive growth, but has its broadband business has let the side down.
Its wireless business tripled in the year to May 2017, reaching £30.5m, up from £9m the year before.
The Yeadon-based company is now expecting group revenue of approximately £35.4m for the year, from £13.6m.
However Filtronic’s broadband business took a hit with a decline in orders from a major customer.
It still saw an increase in revenue for the year to £4.9m, up from £4.6m – far from matching the growth in its other division.
A decrease in demand for its Orpheus will be offset in the coming
Rob Smith, CEO of Filtronic plc, commented: “Tremendous progress was made through FY2017 that has resulted in the Group achieving both profitability and cash generation.
“We are mindful that our revenues have historically been very concentrated and we are working hard to broaden our customer base and product range so that the business is more robust.”