Electronics products for the wireless telecoms infrastructure and adjacent markets-focused Filtronic (FTC) has released a “Trading Update” announcement emphasising “a strong sequential second half (to 31st May 2016) performance” and helping the shares up currently approaching 7.5%, to 10.875p, in response. Let’s take a look…
It goes from bad to worse for Filtronic plc (FTC) – with the shares, already down from more than 80p less than two years ago, today falling a further near 20%, to a current circa 14p, on an announcement that “it is now clear to the board that the revenues from Wireless in the latter months of the second half will not build up as quickly as expected”, that “the board is investigating a number of measures to strengthen the balance sheet with permanent capital” and that CFO “Rob Smith… has replaced Alan Needle as CEO with immediate effect”. The following reviews…
