5th Feb 2019 16:53
LONDON (Alliance News) - Filtronic PLC said Non-Executive Director Pete Magowan purchased 750,000 shares at a price of 6.9 pence per share on Friday.
The GBP51,750 deal represents Magowan's entire 0.4% holding in Filtronic, which designs and manufacturers antennas and other products for the wireless telecoms and critical communications markets.
On Tuesday, Filtronic reported a swing to loss in the first half of its current financial year, due to lower filter sales volumes and reduced margins in its Americas unit. The company swung to a loss of GBP941,000 in the six months to the end of November 2018 from a GBP582,000 profit the year before, as revenue fell to GBP10.4 million from GBP12.8 million.
Filtronic attributed this to the conclusion of its legacy filter product programmes.
Shares in Filtronic closed flat at 7.80 pence on Tuesday.
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