FILTRONIC PLC

Earnings Release • Dec 18, 2017

National Storage Mechanism | Additional information

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RNS Number : 5696Z

Filtronic PLC

18 December 2017

Filtronic plc

("the Company")

Trading Update and Notice of Results

Filtronic plc (AIM: FTC), the designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market and adjacent markets, announces a trading update for the six months ended 30 November 2017.

The Company expects to report unaudited revenues for the first half of its financial year of approximately £12.8m (FY2017: £21.6m), comprising Filtronic Wireless at £11.0m (FY2017: £21.6m) and Filtronic Broadband at £1.8m (£2.9m) generating an expected unaudited operating profit of approximately £0.9m (FY2017: £1.8m) and strong cash generation with a net cash balance at the period end of £2.9m (FY2017: £0.7m). Although a reduction in performance against the comparative period last year (FY2017) it is broadly in line with our expectations and reflects our projected phasing of order fulfilment across the year, but with a slightly slower than expected ramp from our recently announced defence contract wins which has pushed the first volume deliveries out of H1 and into H2.

Rob Smith, CEO, said "As stated in previous announcements, sales are expected to continue to be lumpy until we further broaden our customer base and the markets we serve. However, we are pleased with order intake and new contract wins in both businesses during the period, which support our strategic development goals".

Notice of results

It is expected the Company will publish its half year results on 30 January 2018.

Enquiries:

Filtronic plc	Tel. 0113 220 0000
Rob Smith (CEO)
Michael Tyerman (FD)
Maura Moynihan (Company Secretary)	Tel. 01274 535 619
Panmure Gordon (UK) Limited	Tel. 020 7886 2500
Dominic Morley / Alina Vaskina (Corporate Finance) Erik Anderson / Tom Salvesen (Corporate Broking)
Walbrook PR Limited	Tel. 020 7933 8780 or filtronic@walbrookpr.com
Paul Cornelius Helen Cresswell	Mob. 07866 394 707 Mob. 07841 917 679

Notes:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

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