Mobile phone technology firm Filtronic said trading for the first half of the 2020 financial year is anticipated to be in line with its expectations, as it enjoyed encouraging activity levels in its continuing business lines.
Order input levels across its portfolio of public safety, 5G backhaul and defence products have shown improvement over the first half of the prior year.
The Leeds-based business said it had invested around £1m increasing manufacturing and testing capacity to support an improving order book.
Last month, Filtronic entered into a settlement agreement over a warranty claim.
The $2m claim will be paid in four instalments up to the end of 2020, Filtronic confirmed in a statement this morning ahead of its annual general meeting.
Filtronic has entered into a process to sell its loss-making Telecoms Antenna Operation. That sales process is continuing, the firm added.
Earlier this month, Filtronic’s CEO Rob Smith resigned with immediate effect.
Reg Gott, chairman of Filtronic, took over as executive chairman of the group while the company conducts a comprehensive search for its next chief executive.
He said: “The board would like to thank Rob for his support and dedication over the last 5 years, particularly during a very challenging last year for the company.”