10th Jun 2009 07:00
Filtronic plc
Trading Update
Filtronic plc ("Filtronic" or "the Company") has today issued the following trading update after the close of its financial year on 31 May 2009.
Trading in the second half of the year has been as expected with a better than breakeven result and operating cash neutrality. Operating costs continue to be tightly controlled whilst maintaining development engineering expenditure on new products funded from internal cash generation.
As part of the operating cost reductions, the Company is consolidating its finance functions at its Newton Aycliffe site. Stephen Mole, currently CFO, will step down at the end of September. The process to appoint a successor is underway.
The cash balance at 31 May 2009 was £16.1m.
John Poulter will stand down as Chairman at the AGM in September to be succeeded by Howard Ford who joined the Board in December 2008.
Filtronic will announce preliminary results for the year ended 31 May 2009 on 27 July 2009.
Enquiries:
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Filtronic plc |
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John Poulter, Chairman |
Tel. 01274 535 610 |
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Hemant Mardia, CEO |
Tel. 01325 301 111 |
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Stephen Mole, CFO |
Tel. 01274 535 610 |
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Walbrook PR Ltd |
Tel. 020 7933 8787 |
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Paul McManus |
Mob. 07980 541 893 |
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