A North East technology firm helping drive high-tech space projects has more than quadrupled its profits in what it described as “transformational” financial year.
Filtronic says it is set for sustained “relevance and success” thanks to its financial performance.
Bosses revealed the optimistic outlook after profit surged 352 per cent higher to £14 million in the year to May 31.
Operating profit at the radio-frequency parts maker was 272 per cent better off at £13.4 million, with revenue increasing 121 per cent to £56.3 million.
The numbers were fuelled by a number of high-profile contracts, including record space sector orders, which included a deal to supply parts to Elon Musk’s SpaceX.
The firm, headquartered at NETPark, in Sedgefield, County Durham, also secured an agreement to provide “critical components” to defence operator Leonardo, picked up a £13.4 million order to deliver electronic sensor system parts for an unnamed client and is set to supply equipment to Airbus Defence and Space to support Eutelsat’s OneWeb satellite programme.
Championing its “conviction” in “complex, fast-evolving markets”, chief executive Nat Edington said the company – which has also expanded its NETPark footprint with a move to a larger factory – said: “The 2025 financial year has been a transformative year, showcasing the successful execution of our growth strategy.
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“Our record revenue growth and landmark wins in the space and defence sectors reflect the trust placed in us by global players and that our technology is meeting real world demand.
“As we enter the 2026 financial year, we are confident in our trajectory, with a strong order book, healthy cash position, and a strengthened leadership team in place… and our move to a new, larger manufacturing facility will enable us to scale effectively and capitalise on the significant opportunities.”
Jonathan Neale, chair, added: “We enter the new financial year facing headwinds from a weakened US dollar but with a growing pipeline and increased customer engagement across multiple markets.
“With a robust order book, world-class talent, and a clear innovation strategy, we are well-positioned to lead in the converging sectors of communications, aerospace and defence, and space.”
