Communications specialist poised for further expansion
Shipley-based communications technology firm, Filtronic, says its healthy cash position means it has a solid platform for continued investment in growth.
Publishing its full year results for the 12 months ended 31 May 2022, the business reports revenues of £17.1m (2021: £15.6m) and pre-tax profits of £1.9m (2021: £0.2m).
The company has also recorded adjusted EBITDA of £2.8m (2021: £1.8m)
Jonathan Neale, chairman, said: “The Group’s trading performance strengthens the balance sheet and provides a platform to further develop the business with continued investment in R&D, new product development and process capability.
Jonathan Neale
“Execution of our technology roadmap will be a key focus this year as we expand and augment our product offering whilst also delivering bespoke developments to customers who trust us to solve their technically challenging RF problems.
“Broadening our customer base remains one of our key strategic objectives, and having strengthened our sales channels, we look forward to further progress.
“With the growing opportunity pipeline and order book, we anticipate further revenue growth, particularly as 5G telecommunication infrastructure rollouts gather pace, although the quality of earnings may be impacted due to price sensitivities in this market.”
Filtronic says it has recently won several contracts with a range of new customers and markets that should deliver sustainable expansion and long-term shareholder value.
It notes it has successfully managed the ongoing headwinds from global semiconductor shortages, ensuring continuity of supply to customers, and generating new opportunities as a result.
And the business says it has strengthened its engineering and business development teams through an active recruitment campaign.
