30 January 2018 – interim results
A disappointing reaction to the interim results has seen shares in Filtronic drop back even though the results were much in line with expectations. As expected revenues for the six months to 30 November were down to £12.8m (2016: £21.6m) with adjusted pre-tax profits falling to £0.9m (2016: £1.75m).. Earnings per share fell to 0.39p (2016: 0.69p). Net cash at the end of the period was £2.8m (31 May 2017: £2.6m). As explained before the revenues at the group are very lumpy and delays in certain contracts mean that the second half will not be as good as previously thought with growth being pushed back into next year. Despite this the sharers are reasonable value and are a SPECULATIVE BUY.