Filtronic 'delighted' as demand boosts results

A technology firm backing Elon Musk’s space odyssey has upped financial forecasts following strong demand.

Sedgefield-based Filtronic says it expects to “deliver stronger full-year results than current market expectations”, with “significant growth in revenue and profits”.

Bosses at the NETPark-headquartered company say its progress has been boosted by “robust” demand, with a “pull-forward” of customer orders accelerating momentum across the second half of its financial year.

The update comes just days after the business – which is working with Elon Musk’s rocket and spacecraft maker SpaceX – revealed it was in “advanced discussions for further contracts in the space, aerospace and defence market”.

It also precedes Filtronic’s move to a “purpose-built” NETPark base early next year, which it says will double manufacturing space “and significantly expand production capabilities.”

Speaking in a trading update ahead of interim results for the six months to November 30, Nat Edington, chief executive, said: “We are delighted with the continued momentum we have achieved, and look forward to focusing on delivering increased expectations over the remainder of the year.”

Filtronic’s SpaceX project focuses on the supply of power amplifiers and similar products for the latter’s Starlink constellation, which uses low Earth orbit satellites to deliver high-speed internet connections.

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