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Filtronic PLC - Leeds-based antenna maker - Posts revenue of £8.4 million for the for the six months ended November 30, up 5.0% from £8.0 million a year earlier. Pretax profit, however, decreases to £440,000 from £684,000, as operating profit falls to £483,000 from £721,000 a year earlier. Says a lower operating profit is due to an adverse first half sales mix, offset by ‘brief advantage from strong US dollar sales, and a higher cost base following investment into sales channels and engineering’. Chair Jonathan Neale says: ‘Global spending on aerospace & defence, telecommunications infrastructure and low earth orbit commercial space applications is increasing, underpinned by exciting technological advancements. We have also seen governments re-evaluate critical infrastructure supply with an emphasis on security and national resilience.’ Declares no interim dividend. Looking ahead, Filtronic says it is dealing with continuing component shortages, inconsistent supply and delays, but that its outlook is supported by a strong order book. Current stock price: 11.74 pence each, up 9.1% on Tuesday afternoon in London 12-month change: down 0.1% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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