North electronics manufacturer Filtronic has seen profits jump following a strong year in which it landed significant contract wins with customers including SpaceX.
The NETPark business, which designs and manufactures products for the aerospace, defence, telecoms infrastructure and low earth orbit space markets, has posted full year results for the year ended May 31, in which revenues jumped 56% to £25.4m on the back of major deals. The firm said that its stronger sales mix, with a lower concentration of revenue from telecommunications infrastructure, led to an operating profit of £3.6m – a huge leap on the 2023 figure of £200,000 – and adjusted Ebitda of £4.9m, up from £1.3m.
