Sign In
Last checked at 
8 Dec 2008 07:00
ο»Ώ
Filtronic plc
Trading Update for 6 months ended 30 November 2008
Filtronic plc today provides its trading update forΒ the 6 months ended 30 November 2008.
The GroupΒ deliveredΒ strongΒ sales in theΒ firstΒ six months, albeit slightly lower than the first half of the previous year.Β As indicated in the update of 6 November, the expectationΒ for the second half year is for weaker trading on the back of the industry-wide slowdown in infrastructure spendingΒ while achieving cash neutrality.Β In addition to the benefits of earlier overhead reductions, the Group has taken determined steps to reduce costs in the face of unpredictable demand.
Disposal of theΒ UK Defence business was completed in August. The initial considerationΒ receivedΒ was Β£13m although a small working capital adjustment payment of aroundΒ Β£0.3m is likely to be madeΒ to the purchaserΒ in the second half year.
A second special dividend of 40p per share (Β£29.7m) was paid to shareholders on 24 November 2008.
The cash balance at 30 November 2008 was Β£15.7m.Β
Howard Ford has been appointed to the Board as a non-executive director as separately announced.
The interim results are scheduled for release on Monday 19 January 2009.
Contacts:
Filtronic plc
John Poulter, Chairman 01274 535610
Hemant Mardia, CEO 01325 301111
Stephen Mole, CFOΒ 01274 535610
Parkgreen Communications Ltd
Paul McManus 020 7933 8780
07980 541893 (mobile)
Paul.mcmanus@parkgreenmedia.com
Β
Follow the stocks
