Filtronic hails growth as space fuels record orders

A technology firm supporting headline space projects says growth is on the radar after racking up record orders.

Filtronic says it is in a “strong position” to “capitalise on a rapidly expanding defence and space pipeline”.

The upbeat outlook comes after a string of multi-million-pound contracts with operators including Elon Musk’s SpaceX.

Bosses say the interest helped revenues at the County Durham-based radio frequency apparatus maker remain stable at £25.3 million in the six months to November 30.

Profit came in lower at £2.6 million.

However, despite the fall, officials say the company is positioned for “accelerated growth” thanks to “deliberate and targeted investment in people, facilities and product development”, which included a shift to larger headquarters on Sedgefield’s NETPark science and technology hub.

Nat Edington, chief executive at Filtronic – which late last year secured a £5 million-plus deal with a European aerospace firm to support a low Earth orbit satellite constellation programme – said the business has “clear visibility and confidence in its strategy”.

He added: “The first half of the year demonstrated the strength of our positioning in markets where performance, reliability and security are mission critical. 

“Demand across our space, aerospace and defence markets remains robust, and with a record order book, increasing customer diversification and the business now operating at greater scale, we have entered the second half confident of continuing our planned growth.”

The company’s headline orders also included a £13.4 million deal to supply parts for an electronic sensor system, and a defence agreement with Leonardo to provide “critical components” for radar systems.

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