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.
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.