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Last checked at 
24 Sep 2010 07:00
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Filtronic plc
("Filtronic" or "the Company")
Interim Management Statement
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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.
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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 Β£1.0m per month.
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At the end of August 2010 the Company had Β£15.1m of cash, a reduction of Β£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,
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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.
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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.
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The half year results for the six months ending 30 November 2010 will be announced in January 2011.
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Enquiries:
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Filtronic plc |
Tel. 01325 301111 |
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Howard Ford, Chairman |
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Hemant Mardia, CEO |
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Mike Brennan, CFO |
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Panmure Gordon (UK) Limited |
Tel. 020 7459 3600 |
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Dominic Morley |
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Stuart Gledhill |
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Walbrook PR Ltd |
Tel. 020 7933 8787 |
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Paul McManus |
Mob. 07980 541 893 |
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paul.mcmanus@walbrookpr.com |
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Fiona Henson |
Mob. 07886 335 992 |
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fiona.henson@walbrookpr.com |
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