Filtronic Shares Edge Higher On Contract Win

Filtronic (LON: FTC) shares rose 0.8% on Thursday after the company announced a new contract with defence giant Leonardo. 

The deal expands the company’s role in supplying components for airborne radar systems.

The £0.8 million order will see Filtronic deliver high-performance modules for Leonardo’s Active Electronically Scanned Array (AESA) radar system.

The components will be manufactured at Filtronic’s advanced microelectronics facility in Sedgefield, County Durham, with fulfilment expected in the second half of the next financial year.

The contract builds on Filtronic’s existing relationship with Leonardo, its lead defence customer, and enhances the company’s product offering for next-generation radar technologies.

“We are pleased to be able to extend our relationship with such a valued customer which reflects their continued confidence in our ability to deliver this new and challenging programme,” said Nat Edington, Chief Executive Officer. 

“Defence is a critical market for the execution of our growth plans and this ongoing long-term relationship with Leonardo is testament to Filtronic's strong track record of collaboration and successful project delivery with a respected defence prime.”

Filtronic has seen its shares surge by over 123% in the last 12 months. So far this year, it is up more than 63%. 

The company designs and manufactures advanced radio frequency components for the aerospace, defence, space, and telecoms infrastructure markets.