31 January – interim results

The group has released its interim results covering the six months to 30 November and these have proved somewhat disappointing.  Revenue from continuing operations fell to £7.3m (2009: £9.6m), whilst the group recorded a loss before tax on continuing operations of £1.2m (2009: profit of £0.1m).  The group has confirmed that it is in talks with one of its major customers which has recently been taken over by one of Filtronic’s competitors as this is likely to result in a considerable loss of business for the group.  Until further clarification is received about the extent of this loss of business the shares are only a HOLD.