LONDON (dpa-AFX) - Filtronic Plc (FTC.L), a maker of products for the aerospace, defense, telecom, and others, on Tuesday reported a decline in earnings for the first-half. However, the company reported a rise in revenue.
For the six-month period to November 30, 2022, the Yeadon-headquartered firm posted a pre-tax profit of 0.440 million pounds, compared with 0.685 million pounds, posted for the first-half of 2021.
After tax, profit was at 0.464 million pounds or 0.21 pence per share as against last year's 0.677 million pounds or 0.31 pence per share.
Operating income fell to 0.483 million pounds from 0.721 million pounds a year ago. Excluding items, operating income stood at 0.483 million pounds, compared with 0.608 million pounds.
The company said, 'An adverse first half sales mix, offset by brief advantage from strong US dollar sales, and a higher cost base following investment into sales channels and engineering has contributed to a lower operating profit.'
Adjusted EBITDA also moved down to 0.952 million pounds from 1.124 million pounds of previous year.
Filtronic generated revenue of 8.368 million pounds, higher than 8.004 million pounds of previous fiscal.
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