Untitled Document
Filtronic plc
Trading update
Filtronic plc (“Filtronic”) will announce preliminary results for the financial year ended 31 May 2007 on 23 July 2007 and has today issued the following statement.
Revenue in the second half of the financial year will have been in line with market expectations. Operating performance in the second half of the year is expected to have been better than market expectations although, as predicted, still loss making overall. This reflects another good half year in Point to Point, a sound performance in the Defence business, and margin and overhead control in Compound Semiconductors, which will have traded close to breakeven.
Capital expenditure (including related cancellation costs) for the Newton Aycliffe facility has been within the limits stated in January. Excluding this, the underlying Group cash performance in this period will have been positive.
As previously reported, the Powerwave shares acquired as part of the sale of the Wireless Infrastructure business were sold in the second half of the financial year. In total, the sale of these Powerwave shares generated net proceeds of £53.4m, in addition to the cash consideration of £96.9m making a total of £150.3m.
Contacts:
Filtronic plc
John Poulter, Chairman 01274 415 325
Charles Hindson, Chief Executive 07800 706 319 (mobile)
Filtronic website: www.filtronic.com
Parkgreen Communications Ltd 020 7493 3713
Paul McManus 07980 541 893 (mobile)