Interim Management Statement

RNS Number : 2375T

Filtronic PLC

24 September 2010

 



Filtronic plc

("Filtronic" or "the Company")

Interim Management Statement

Filtronic plc, the designer and manufacturer of microwave electronics products for the wireless telecoms backhaul infrastructure market, issues its Interim Management Statement for the period from 1 June 2010, ahead of today's AGM.

As expected, trading in the first quarter has improved from the weak final quarter of last year, though conditions remain difficult overall.  Sales are running at around £1.0m per month.

At the end of August 2010 the Company had £15.1m of cash, a reduction of £1.1m from the year-end position.  This reflected a number of factors including the working capital impact of a different sales mix and improved sales overall,

On 30 July 2010 the Company announced the proposed acquisition of Isotek (Holdings) Limited and its wireless infrastructure business.  Preparation of the necessary documentation (for the formal offer to effect the acquisition) is progressing well and the board expects to be in a position to announce a formal offer in October.

There have been no other significant changes in the position of the company over the period since the publication of its annual report for the year ended 31 May 2010.

The half year results for the six months ending 30 November 2010 will be announced in January 2011.

Enquiries:

Filtronic plc	Tel. [phone]
Howard Ford, Chairman
Hemant Mardia, CEO
Mike Brennan, CFO
Panmure Gordon (UK) Limited	Tel. [phone]
Dominic Morley
Stuart Gledhill
Walbrook PR Ltd	Tel. [phone]
Paul McManus	Mob. [phone]
	[e-mail]
Fiona Henson	Mob. [phone]
	[e-mail]

 

END

 

 

IMSUOVKRRWAKUAR