Filtronic sales down as slowdown continues
MOBILE and radio frequency components group Filtronic said today that sales were down on the same period as last year on the back of the industry-wide slowdown in infrastructure spending.
In a trading update for the six months ended November 30 the Shipley-based company said the group delivered strong sales in the first six months, but that as a result of the economic downturn it was taking “determined” steps to reduce costs in the face of unpredictable demand.
The group said its cash balance stood at £15.7m for the period.
In a separate announcement the group said it had appointed Howard Ford as a non-executive director.
Mr Ford is currently chairman of Varioptic, the liquid lens manufacturer headquartered in Lyon, France and is chairman of Servista – a business process outsourcing provider based in London.
He is also chairman and trustee of the Branshaw Foundation, an educational charity operating across the Thames Valley.
Earlier in his career he was managing director of Equant Network Services, a company which was listed on the New York Stock Exchange and Paris Bourse until its takeover by France Telecom in 2005 and before that he was chief executive of BT Cellnet.
