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Filtronic PLC - Leeds-based antenna maker - Signs new contract with an unnamed "provider of low latency private networks." The contract is valued at USD800,000, with revenue expected to be recognised in financial 2024. Under the agreement, Filtronic are required to design, develop and manufacture "high-performance" power amplifier modules for incorporation into next generation point-to-point microwave radios.
Chief Executive Officer Richard Gibbs says: "We are delighted to secure the first significant order with this customer, having successfully completed a smaller development with them in the last calendar year. We look forward to working with the customer on this project and building on the relationship".
Current stock price: 12.17 pence each, up 2.4% on Monday afternoon in London
12-month change: up 8.1%
By Sophie Rose, Alliance News reporter
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