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297.50 -73.00 (-20.28%)

Bid:

295.00

Ask:

300.00

Spread: 5.00 (1.695%)

Market Cap: £631.24m

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Filtronic shares jump as it expects to beat market expectations

Mon, 16th Dec 2024 12:46

(Alliance News) - Filtronic PLC shares surged on Monday as it said it expects to beat market expectations and deliver "significant growth" in earnings.

The Sedgefield, England-based company is a designer and manufacturer of products for the aerospace, defence, telecoms infrastructure, and low earth orbit space markets.

Filtronic shares were up 6.3% to 76.50 pence in London on Monday morning.

It said it expects to report a "strong set of results" for the six months to the end of November, with "significant" growth in revenue and profit.

The company also said its second half customer demand "remains robust" due to pull-forward of customer orders.

It now expects to deliver stronger results for the full-year than current market expectations.

Chief Executive Officer Nat Edington said: "We are delighted with the continued momentum that we have achieved and look forward to focussing on delivering these increased expectations over the remainder of the year."

By Michael Hennessey, Alliance News reporter

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