Filtronic sees sales and earnings 'marginally' ahead of expectations

Filtronic PLC on Wednesday said trading momentum continues while a ‘healthy’ order book leaves it well placed for the future.

The Yeadon, England-based maker of advanced micro electronics expects to report revenue of £56.3 million in the financial year to May 31 more than double £25.4 million a year prior.

Adjusted earnings before interest, tax, depreciation and amortisation are forecast of ‘no less’ than £16.6 million, multiplied from £4.9 million a year before.

Filtronic said both were ‘marginally ahead’ of market expectations and follow ‘multiple’ increases in expectations over the course of the financial year.

Analysts at Cavendish said the revenue forecast was ahead of its £55 million estimate with adjusted Ebitda above its £16.3 million projection.

Despite this shares in Filtronic fell 1.2% to 153.10 pence each in London on Wednesday. Shares in the firm have more than doubled in the last 12 months, however.

‘A healthy order book provides significant order coverage as the company commences the new financial year which, coupled with a growing pipeline, leaves the business in a strong position to meet market expectations for FY2026,’ Filtronic said in a trading statement.

Cash at bank on May 31 was £14.5 million, up from £7.2 million a year. Net cash, net of all lease obligations except right of use property leases, at May 31 was £12.3 million, up year-on-year from £5.1 million.

Rising European defence spending coupled with macro tailwinds such as RF engineering shortages, demand for sovereign capability, and market convergence further strengthen Filtronic’s position in the aerospace and defence sector, Filtronic said.

In addition, the company said technology developments at the group are proceeding at pace, with encouraging results on chipset developments for new frequency bands.

Filtronic expects that some of these developments will be ready by the first quarter of calendar 2026.

Results for the financial year ended May 31 will be announced on July 29.

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