Updates

Filtronic - Expects significantly improved margins this year

September 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares spiked to 14p following full year results. Sales were down from £17.5m to £13.6m but clearly brighter prospects are ahead. Adjusted operating loss was £6.8m down from £11m. Total R&D costs were £4.3m, with £0.3m capitalised.During Q4, Filtronic received substantial production orders for its new integrated antennas from a major European OEM. The contracts came late and consequently Filtronic Wireless recorded sales of £2m in H1 and £7m in H2 and at the same time the business benefited from the streaming exercise that had eliminated £1.2m of costs. Financial performance improved as the year progressed with an adjusted loss in H2 of £1.8m compared to the ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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