Filtronic wins large follow-up telecoms antenna order

Filtronic has won a sizeable $7.9m follow-on wireless telecoms antenna order.

The AIM-listed maker of radio-frequency and microwave antennas for the mobile telecommunication market said it had won the follow-on order from a major European original equipment manufacturer (OEM) which had recently agreed orders of $3.9m and $2.0m in January and early March 2016.

Filtronic said fulfilment of the new order would straddle its 31 May financial year end.

Following recent interim results that were described as "disappointing", as they showed only part of the effects of the restructuring and none of the upside from the revised cost base or the recent contract wins, house broker Panmure Gordon said the new order displayed the upside "loud and clear" and begins to copper-bottom the outlook for the new financial year.