Electronics manufacturer quintuples revenue to £11.7m

MICROWAVE electronics manufacturer Filtronic has more than quintupled revenue to £11.7m, bringing it back in the black.

In its first quarter, revenues reached £11.7m, up from £2.2m in the same period last year.

This means that the Yeadon manufacturer is back in the black with operating profits of £1m, having made a £2m loss in the same quarter last year.

It said the results show “significant” improvement when compared with those achieved in FY2016 where full year results showed sales of £13.6m and an operating loss of £7.0m.

Filtronic’s performance was driven by sales of its ultra-wide band integrated antennas, it said.

However its management board was cautious, saying that sales are being driven primarily by demand from one customer for a single product type.

It predicted short term variations in sales performance for 2017.