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Filtronic swung to a first-half profit as higher revenue and an improvement in margin boosted results.
For the six months ended 30 November 2021, pre-tax profit rose to £685,000 from a loss of £143,000 a year earlier, while revenue rose to £8.0 million from £7.1 million.
The recovery of the critical communications market in North America, and the culmination of some long-term development programmes, with margin improvement from a stronger sales mix, contributed to an operating profit of £0.6 million, up from £0.1 million and an 83% increase in adjusted earnings before interest, taxes, depreciation, and amortisation, or EBITDA, to £1.1 million, up from £0.6 million last year.
'We are confident we will achieve a third consecutive year of EBITDA growth despite the headwinds of supply chain disruption from global semiconductor shortages,' the company said.