Leeds-based Filtronic receives boost from contract to supply battlefield radio communications equipment

Filtronic, the designer and manufacturer of products for the aerospace, defence, telecoms infrastructure and critical communications markets , has announced its full year results for the 12 months ended 31 May 2021.

The company said its healthy cash position will be used to drive further organic growth in markets which are showing strong signs of recovery from the pandemic.

Filtronic, which is based in Leeds, has also been awarded a contract to develop and supply battlefield radio communications equipment.

Group sales from continuing operations increased in the second half of the year by 20% to £8.5m, although sales for the full year reduced by 9% to £15.6m

Adjusted EBITDA from continuing operations was £1.8m, which is an increase on the £1.2m recorded in the previous year.

Reg Gott, the company's chairman, said: " Our healthy cash reserves and continued generation of EBITDA provide a solid platform from which to build the business and make the necessary investments to facilitate further revenue growth.

"The biggest challenge we faced throughout the pandemic was customer engagement and new customer acquisition due to travel restrictions.

"We countered this by expanding our channels to market, across multiple territories, and executed on the marketing plan to raise the brand profile which has provided fresh momentum, stimulating a growing opportunity pipeline and a number of initial contract wins with key target customers. Alongside increased order-flow and strengthened customer forecasts there are signs of pent-up demand in our served markets that we are positioning ourselves to capitalise on.

"The recent refresh of our strategic plan identified key objectives, milestones and the required advancement of our technology roadmap to further develop the business which we look forward to executing on over the coming year."