Monday, September 21, 2020

Revenue rise for electronics manufacturer

Filtronic, the AIM-listed Shipley-based electronics manufacturer, has reported a rise in revenue in full-year results released this week.

For the year ended 31 May 2020, the company posted revenue of £17.2 million – up from £15.9 million in 2018/19.

Adjusted EBITDA rose from £700,000 to £1.2 million but the company did report a pre-tax loss of £400,000, compared to a £100,000 profit the year before.

The results were driven by securing several new contracts and by the sale of its telecoms antenna business earlier this year.

“The key strategic objective of the business has been to broaden the customer base and product portfolio. The progress made to address this has been pleasing, notably through recent contract wins to supply new customers and markets, whilst new products were launched into our existing customer base,” said Chairman Reg Gott.

“The upgrade of our operational capability provides the infrastructure to support future growth, whilst the improvement of our cash reserves enables us to commit to engineering developments that deliver a high return on investment.

“The recent strengthening of our sales and marketing team will further facilitate execution of our strategic plans and gives the Group the ability to scale without significant uplifts on the cost base.

“The business demonstrated resilience and effective management through the recent phase of the Covid-19 pandemic but, like our peers, we are cautious on the immediate outlook with the full economic fallout of the crisis unknown.

“However, we remain confident in the underlying fundamentals of the business and look to pursue the opportunities that present themselves to create long-term value for shareholders.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Hull’s Whitefriargate secures £1.75m grant from Historic England

Whitefriargate in Hull has received a grant of £1.75m from Historic England. Hull City Council was informed earlier this year that its funding bid, for...

Facelift planned for prominent Sheffield building

A planning application proposing a significant facelift to Sheffield's Gaumont building, located on the junction between Barker’s Pool and Burgess Street in the city...

Pandemic sees major slide in recruitment plans as firms play it safe

Almost half of firms in the UK plan to reduce recruitment or not recruit at all over the next year, according to an annual...

The times they are a-changing

Bob Dylan’s immortal words couldn’t be more accurate in this day and age as many of us are having to learn new skills and...

NPIF cash for Sheffield smart sensor company

Sheffield tech company, Tribosonics, has raised £1.1 million to develop and grow its smart sensors which helps industry reduce costs. The company embeds sensors within...

Structural steel specialists secures trio of contracts worth £21m

The structural steel division of the South Yorkshire-based Billington Holdings has secured three contractors worth £21 million. According to the AIM-listed company, one of these...

Related news

Hull’s Whitefriargate secures £1.75m grant from Historic England

Whitefriargate in Hull has received a grant of £1.75m from Historic England. Hull City Council was informed earlier this year that its funding bid, for...

Facelift planned for prominent Sheffield building

A planning application proposing a significant facelift to Sheffield's Gaumont building, located on the junction between Barker’s Pool and Burgess Street in the city...

Pandemic sees major slide in recruitment plans as firms play it safe

Almost half of firms in the UK plan to reduce recruitment or not recruit at all over the next year, according to an annual...

The times they are a-changing

Bob Dylan’s immortal words couldn’t be more accurate in this day and age as many of us are having to learn new skills and...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close