RF components and systems developer Filtronic (LON: FTC) has been upgraded yet again after its latest trading statement. Both 2024-25 and 2025-26 figures are going to exceed expectations. The share price is 4.1% higher at 99.5p and just off its recent high despite concerns about tariffs.
Manufacturing capacity has been increased to meet the demand from clients, such as SpaceX.
Cavendish raised the forecast revenues for the year to May 2025 from £50.4m to £55m and increased the pre-tax profit estimate from £11.9m to £14.1m. To put that in perspective, just over one year ago the pre-tax profit forecast was £6.4m – and that was after an upgrade.
The 2025-26 revenues estimate has been raised from £46m to £50m. However, the pre-tax profit forecast is maintained at £8.3m because of investment in engineering capacity. There is potential for further upgrades as the year progresses.
Net cash is expected to be £13m by the end of May 2025 and £16.7m one year later.