Electronics Production | July 23, 2007

Filtronic may sell Newton Aycliffe plant

UK based Filtronic reported poor figures for the preliminary results for the year ended 31 May 2007. The company is in discussions to sell its Newton Aycliffe plant. This will allow them to return to profit.
Revenue from continuing operations was £73.5m (2006 £63.0m), with an operating loss before exceptional items of £5.3m (2006 £10.9m). Operating loss after exceptional items was £27.6m (2006 £10.2m). Discontinued operations recorded a profit of £76.7m (2006 £18.9m).

Actions taken to reduce costs and widen margins enabled Compound Semiconductors to produce a near-breakeven result in the second half. The total impact of the capital expansion reversal referred to at the half year was £7.1m. Excluding this, and completion of the capital expenditure commitments, the unit delivered a positive cash flow in the half year. Subsequently, the main customer for mobile handset switch products advised us of its intention to in-source all its future requirements, resulting in Filtronic announcing a significant headcount reduction at the Newton Aycliffe facility.


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