Filtronic Regulatory News (FTC)

7 Dec 2007 07:01

Filtronic PLC07 December 2007 Filtronic plc Trading update for 6 months ended 30 November 2007 Filtronic plc today provides its trading update for the 6 months ended 30November 2007. The group is expected to have returned to profitability and to have beenoperationally cash neutral. Point to Point delivered a substantial increase in revenue. CompoundSemiconductors benefited from the previously announced additional short termswitch volume. Defence remained steady. Disposal of the US Defence business was completed in October. The initialconsideration received was $3.4m and a further deferred consideration of up to$1.5m is due in the first quarter of 2009. The sale of the Waterfront propertywas completed in November generating proceeds of £5.9m, equivalent to bookvalue. The enhanced transfer value pension offer to deferred members, referred to inthe Preliminary results in July, will be finalised in early December at anestimated cost of £6m. The cash balance at 30 November was £117m with £0.8m to be paid in earlyDecember to conclude this pension transfer offer. The interim results are scheduled for release on Monday 21 January 2008. Contact details Filtronic plc: John Poulter, Chairman 01274 415 306Charles Hindson, Chief Executive 07800 706 319 (mobile) Parkgreen Communications Ltd 020 7479 7933Paul McManus 07980 541 893 (mobile) paul.mcmanus@parkgreenmedia.com This information is provided by RNS The company news service from the London Stock Exchange