Filtronic FY 2022 Pretax Profit Rose; Well Placed Entering FY 2023

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By Joe Hope

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Filtronic PLC said Tuesday that its fiscal 2022 pretax profit rose together with revenue and that it is well positioned heading into fiscal 2023.

The London-listed telecom-equipment manufacturer reported a pretax profit of 1.9 million pounds ($2.3 million) for the year ended May 31, compared with GBP211,000 in fiscal 2021.

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Revenue rose to GBP17.1 million from GBP15.6 million, while adjusted earnings before interest, taxes, depreciation and amortization increased to GBP2.8 million from GBP1.8 million, which it attributed to a margin improvement from a strong sales mix.

The company said it successfully strengthened its sales and engineering organizations in the year with the intention of addressing growth opportunities and diversifying its customer base.

“The group remains well placed in the market to deliver revenue growth supported by a healthy order book and balance sheet,” Chairman Jonathan Neale said.

Shares at 0751 GMT were up 0.2 pence, or 1.4% at 15.0 pence.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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