- Revenue up 121% to £56.3 million
- Contract wins in space and defence
- Year-to-date shares up 103%
Shares in Filtronic (FTC:AIM) were up over 1% to 154p in early afternoon trading as the communications kit designer reported a 121% rise in revenue to £56.3 million for the year ending 31 May.
The company attributed this impressive performance to a successful execution of its growth strategy and new contract wins in the defence and space sector.
During this period, the company made significant investments including a new main technology centre close to existing headquarters in County Durham and the opening of a new design facility in Cambridge.
WHAT DID THE CEO SAY?
Nat Edington CEO of Filtronic told Shares: ‘Our record [full year] revenue growth has been driven by landmark wins in the space and defence sectors.
‘As we enter full year 2026, we are confident in our trajectory, with a strong order book, healthy cash position - we have £14.5 million cash at the bank.
‘The transition to GaN technology, expansion into higher-frequency bands, and our move to a new, larger manufacturing facility will enable us to scale effectively and capitalise on the significant opportunities ahead.’
STRONG PROGRESS
Analysts at Cavendish said: ‘The company achieved revenue growth of 121% driven by strong activity in the space sector, which includes Filtronic’s revenue from SpaceX in its Low Earth Orbit (LEO) satellite network programme.
‘The results underscore the strong progress with the largest customer programme SpaceX, as well as the broadening of the growth opportunity with new wins in defence and space.’
