Revenues rise at listed electronics manufacturer

Filtronic, the designer and manufacturer of products for wireless telecoms and communications markets, has reported a strong second half of the year in its trading update or the year end 31 May.

The Shipley-based firm stated that despite some disruption caused by the Covid-19 pandemic and subject to audit its FY 2020 revenue had grown by approximately 8% to £17.2m.

This comes after the firm reported its revenues were down in the six months to 30 November.

In the second half of the year the business has completed of the sale of its Telecoms Antenna Operation in January, and revenue has been buoyed by a strong order book and sustained business throughout the pandemic.

Throughout the Covid-19 crisis,  the business maintained a 24/7 manufacturing capability with all employees and continued to receive orders from existing clients.

However, in  early June due to short-term delays to client delivery schedules, Filtronic did implement a furlough program for a number of manufacturing staff, however it anticipates recalling these employees throughout July and August.

The business also successfully launched two new products during this period, including its self-calibrating Tower Top Amplifier product for the US Public Safety Communications market and expected to receive the first orders in early FY2021. The second a new 5G X-Haul Transceiver product is expected to ship its first production units in late summer 2020.

Despite stating it has entered the new financial year with a good order book it said that “it would be imprudent to be anything other than cautious on the outlook for the year ahead”, and as a result hasn’t provided guidance for the business’ expected performance.