Strong platform for growth at communications technology specialist
Filtronic, which designs and makes communications products, says it has managed to maintain a positive trading momentum in the face of continued disruption to global supply chains.
Publishing its half year results for the six months ended 30 November 2021, the Shipley-based business has recorded revenues of £8m (H1 2021: £7.1m) and a pre-tax profit of £685,000 (H1 2021: £143,000 loss).
In the same period, Filtronic hired Jonathan Neale as its non-executive chairman.
He was previously chief operating officer of McLaren Group. Prior to that he was the CEO of McLaren Racing F1 and managing director of Hawk Military Aircraft at BAE Systems, UK.
Neale said: “We are confident we will achieve a third consecutive year of EBITDA growth despite the headwinds of supply chain disruption from global semiconductor shortages.
“Coupled with a healthy cash position, this provides a robust platform to further develop the business and continue investing in revenue growth initiatives and the technology roadmap.
“Whilst the previous two years impeded customer engagement, the measures taken to augment our channels to market, along with investment into more sophisticated selling tools, has enabled the business to keep moving forward.
“Combined with travel restrictions easing and key marketing activities such as trade exhibitions reopening, we feel positive about the prospects of the business and our ability to continue to deliver growth.“
Filtronic also highlights continued expansion of its indirect sales channels in the USA, with Alpha Sales Group signed up in the Southeast territory to expand the coverage of its sales reach in North America.
