Efforts to broaden client base paying off for communications specialist
Communications technology firm, Filtronic, has reported a profitable year of trading despite headwinds from global semiconductor shortages, geopolitical uncertainty and a difficult economic environment.
Publishing its full year results for the 12 months ended 31 May 2023, the Leeds-based company records revenues of £16.3m (2022: £17.1m) and pre-tax profits of £100,000 (2022: £1.9m). Adjusted EBITDA was £1.3m (2022: £2.8m)
Jonathan Neale, chairman, said: “We are encouraged by the increase in market activity and the rate of requests for quotations in important complex products demanding world class capability.
“Strengthening our business development and engineering teams has been critical to be able to respond quickly.
“Recent wins in the important and emerging low earth orbit space market, which is gathering pace, help us demonstrate our leading-edge technology and high-performance culture.
“We remain committed to R&D investment, to be ready to meet the needs of those markets. Of course, we seek greater scale in our business. We believe this will come.”
The firm, which designs and makes products and sub-systems for the aerospace & defence, telecommunications infrastructure and space markets, highlights a series of recent contract wins totalling over £2m across a diverse range of new telecommunication and private network customers.
Filtronic says these wins demonstrate successful execution of its objective to broaden its customer base.
Eight new products were launched by the company during the year. These span high-power versions of standard telecom products, new filter designs for defence and quantum computing and a range of solid state power amplifiers for space and ground station applications.
