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Filtronic Issues FY17 Trading Update; Q4 Trading In Line With Its Guidance

Filtronic plc (FTC.L) issued a trading update for the 12-month period to 31 May 2017. The Board expects to report operating profit before amortisation of intangibles of approximately 1.7 million pounds. The Board expects to report Group revenue of approximately 35.4 million pounds. The Filtronic Wireless business more than tripled sales revenue in the year to 30.5 million pounds. Sales revenue in Filtronic Broadband business was approximately 4.9 million pounds for the year, an year on year sales growth of 7%.

The Group said its trading during the fourth quarter continued in line with the market guidance provided in the trading update on 12 May 2017. The results for the financial year ended 31 May 2017 will be announced on 1 August 2017.

Rob Smith, CEO of Filtronic plc, stated: "Tremendous progress was made through fiscal 2017 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".

by RTTNews Staff Writer

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