Sedgefield operation helps electronics manufacturer go from £6.8m in the red to £1.7m in the black
Electronics manufacturer Filtronic, which runs its broadband operation from Sedgefield, says it expects to report that group revenue has more than doubled to around £35.4m from last year’s £13.6m.
The remarkable performance is underlined by an operating profit before amortisation of intangibles of approximately £1.7m, reversing a £6.8m operating loss last year.
Its wireless business Filtronic Wireless more than tripled sales revenue in the year to £30.5m and the final quarter’s performance included a strong recovery of revenue in two key markets; telecommunications infrastructure and public safety communications.
In a preview of its results for the financial year ended 31 May 2017, Filtronic said sales of antennas were expected to remain ‘lumpy’, but field trials have started with two mobile network operators which should lead to new contract wins during 2018.
Broadband revenue in the Sedgefield-based Filtronic Broadband business was approximately £4.9m for the year, up £300,000
CEO Rob Smith, said: “Tremendous progress was made through FY2017 that has resulted in the Group achieving both profitability and cash generation. We are mindful that our revenues have historically been very concentrated and we are working hard to broaden our customer base and product range so that the business is more robust.”