Filtronic profits to beat expectations

Filtronic's CEO Rob Smith said that operating profit will also be ahead of expectations
Filtronic's CEO Rob Smith said that operating profit will also be ahead of expectations
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Mobile phone technology firm​ ​​Filtronic ​said trading at its ​wireless business is ahead of previous management expectations​.

The Leeds-based group said that​ despite some marginal, short-term weakness in trading in Filtronic Broadband, the board now expects total ​g​roup revenue of £35​m in the year ​to May ​31, ahead of market expectations.​

T​he group’s CEO Rob Smith said that operating profit will also be ahead of expectations.

Analysts welcomed the news.

Adrian Kearsey at Panmure Gordon said: “Filtronic, the designer and manufacturer of microwave electronics for the wireless telco market, continues to surprise on the upside and has announced that 2017 revenues and profits will be ahead of expectations. Within the mix, the Filtronic Wireless business remains the star of the show, with demand increasingly being driven by its newer products.

“With revenues now expected to be in the region of £35m, we are raising our full year 2017 EBIT forecasts from £1.1m to £1.6m, a 43 per cent upgrade.”

At the interim stage Filtronic Wireless revenues were up four-fold. Mr Kearsey said that revenues have shown year on year growth of 158 per cent.

“The jump in sales activity reflects both shipments of the new ultra-wide band integrated antennas and strong underlying demand for filter products,” he said.