Communications tech firm Filtronic says it expects the national 5G roll out to deliver a further rise in sales next year, as it posted a 9.6% rise in revenues in full year results.
The electronic component manufacturer, which has bases at NETPark in Sedgefield, County Durham, Yeadon in Leeds and Maryland, US, designs and makes products for the aerospace, defence, telecoms infrastructure and critical communications markets. The firm has published full year results for the year ended May 31 2022, in which it saw operating profit more than double from £600,000 to £2m on revenues of £17.1m. Adjusted ebitda was £2.8m, up from £1.8m, and overall gash generated from operating activities was £2.3m, down on last year’s £2.5m.
The company said its healthy cash position provides a platform for continued investment in growth initiatives and that the year saw Filtronic deliver on existing development contracts while also securing initial production orders. Sales of its “best-in-class” Tower Top Amplifier passed £1m in the financial year and it has also accrued a series of recent contract wins, totalling £1.9m across a diverse range of new customers, which it said demonstrates the execution of its objective to broaden its client base.
