Filtronic PLC AGM Trading Update & Notice of Results (3852R)
26 Ottobre 2023 - 8:00AM
UK Regulatory
TIDMFTC
RNS Number : 3852R
Filtronic PLC
26 October 2023
26 October 2023
Filtronic plc
(the "Company" or "Filtronic")
AGM STATEMENT AND NOTICE OF RESULTS
Filtronic plc (AIM: FTC), the designer and manufacturer of
products for the aerospace, defence, telecoms infrastructure, space
and critical communications markets is pleased to provide the
following update ahead of its Annual General Meeting being held
later today at 11.00 am.
Based on trading in the financial year to date, together with
the outlook for the remainder of FY2024, the Company remains
confident of delivering full year results in line with market
expectations.
Good progress has already been made against each of the key
objectives for FY2024 as set out in the outlook section of the
Chief Executive's review in the full year results We were delighted
with the two significant contract wins in the period in the
high-growth Low Earth Orbit ("LEO") space market. The first
strengthens our relationship with the global market leader for LEO
Broadband connectivity and the second established an important
engagement with the European Space Agency underlining the
importance of Filtronic's technology in both ground station and
payload applications which substantially increases the total
addressable market.
Key engineering developments on our technology roadmap have been
progressing well including the latest product in the Cerus power
amplifier suite. The Cerus 32 solid state power amplifier ("SSPA")
is capable of delivering unmatched levels of linear transmit power
at E-band frequencies and we anticipate strong demand from the LEO
base station market. Equally, our MMIC development at W-band is
showing excellent results from the latest modelling and this will
be key to enabling future terrestrial telecom backhaul solutions as
spectrum fills at E-band and the operators look for additional
capacity and improved performance at higher-frequencies.
With the passage of time and in order to enable the Company to
attract and retain a wide pool of talent, the Remuneration
Committee, having consulted with its largest shareholders who in
aggregate hold a controlling interest in the Company, has agreed to
increase the dilution limit attributable to share option schemes to
12.5% of the Company's issued share capital, over any rolling 10
year period.
Notice of Results
Filtronic will announce its half-year results for the six months
ended 30 November 2023 on 6 February 2024.
Enquiries:
Filtronic plc Tel. 01740 618800
or investor.relations@filtronic.com
Richard Gibbs (Chief Executive Officer)
Michael Tyerman (Chief Financial Officer)
Cavendish Capital Markets Limited Tel. 020 7220 0500
Jonny Franklin-Adams/ George Dollemore (Corporate Finance)
Sunila de Silva (ECM)
Walbrook PR Limited Tel. 020 7933 8780
Paul Vann/Joe Walker or filtronic@walbrookpr.com
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disclosed in accordance with the Market Abuse Regulation.
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END
AGMUNSVRONURURA
(END) Dow Jones Newswires
October 26, 2023 02:00 ET (06:00 GMT)
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