- Shares gain 289% over the past year
- Further contracts expected in space markets
- Technology roadmap progress made
Shares in Filtronic (FTC:AIM) were up 8% to 77p in morning trading as the communications kit designer said it expects strong half-year results for the six months ending 30 November.
It has been a stellar year for the firm which has seen its shares rise 289% due to a strong order flow from SpaceX and further smaller development contracts in the space, aerospace, and defence markets.
The company has made progress with its technology roadmap and recruited engineers which has enabled it to run multiple parallel projects for the European Space Agency, QinetiQ (QQ), and BAE Systems (BA).
Nat Edington, CEO at Filtronic said: ‘We are delighted with the continued momentum that we have achieved and look forward to focussing on delivering these increased expectations over the remainder of the year.’
EXPERT VIEW
Katherine Thompson, director at Edison said: ‘Prior to its AGM (annual general meeting) on 31 October Filtronic confirmed that it was confident of delivering full year 2025 results in line with market expectations. It expects a higher revenue weighting in the first half of 2025 reflecting the phasing of orders from its largest customer.
‘Filtronic has made good progress with its technology roadmap, manufacturing capacity and engineering hires, and is in advanced discussion for further contracts in the space and aerospace & defence markets, supporting continued growth of the business.’
The company will announce its half-year results for the six months ended 30 November 2024 on 4 February 2025.
