Filtronic dials into 4G growth
ELECTRONICS manufacturer Filtronic is looking forward to growth on the back of the roll out of new 4G mobile phone networks across Europe and the USA.
The Shipley-based designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market, today unveiled half year results which saw profits in its wireless business offset its loss making broadband operation.
Filtronic made an operating profit of £1.7m in the six months to November 30 on revenue of £20.1m, up 23%. It saw wireless sales growth of 39% compared to the same period the year before.
Broadband sales were £3.6m and the division made a £1.1m loss as chairman Howard Ford said it “continues to transition from legacy to new products and had a disappointing first half”.
Looking ahead, Mr Ford said: “The rollout of 4G/LTE networks is still in its early stages. Even in the USA, only 19% of handsets are yet equipped to receive 4G signals. In Europe, the penetration is much lower. The ability of consumers to enjoy 4G applications has become a key differentiating parameter for operators. This requirement will drive ongoing infrastructure investment by adding new frequency bands and increasing site density.
“Filtronic continues to invest in key technology areas in order to broaden its product range which addresses this growing 4G/LTE market.”
The business had net cash of £5.9m at the year end and will not be paying a dividend.
