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Filtronic narrows losses in H1 as lower costs offset slip in revenue
StockMarketWire.com
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Telcoms products maker Filtronic reported narrower losses in the first half of the year as lower costs offset a slip in revenue.
For the six months ended 30 November 2020, pre-tax losses narrowed to £143 million from £671 million year-on-year as revenue declined to £7.1 million from £7.5 million.
The company reported no exceptional costs for the half year, compared with an £825,000 cost in the prior-year period.
Post period, the company won a contract from a new major UK defence customer for the development and supply of battlefield radio communications hardware valued at over £1 million, Filtronic said.
'Whilst the impact of Covid-19 on the outlook remains uncertain, the fundamentals of the Group remain intact with year-on-year growth of EBITDA anticipated for FY2021 despite the disruption we are seeing in the wider economy,' it added.
At 9:07am: (LON:FTC) Filtronic PLC share price was 0p at 9p
Story provided by StockMarketWire.com
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