Filtronic eyes stronger results after order boost

A technology firm supporting Elon Musk’s space exploration venture has upped financial projections after a rise in demand.

Filtronic says “higher than anticipated” orders leave it primed to deliver “stronger” full year results.

The bullish outlook comes just days after the Sedgefield-headquartered company hailed a “pull-forward” of customer deals that had accelerated momentum across the second half of its financial year.

It also follows bosses revealing the business – which is working with Elon Musk’s rocket and spacecraft maker SpaceX – was in “advanced discussions for further contracts in the space, aerospace and defence market”.

A spokesperson for the firm, which is increasing its NETPark footprint with a move to a larger “purpose-built” base on the County Durham technology and science hub, said: “Order intake for delivery in the current financial year is at a higher rate than anticipated.

“Consequently, the board now expects to deliver stronger results for the full year than the recently upgraded market expectations.”

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

Filtronic also has bases in Leeds and Manchester, and last year opened an office at Cambridge Science Park.

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