A YEADON-based electronics equipment group has seen its revenue soar by more than four times to £21.6 million.

Filtronic, based in Lancaster Way, announced its revenue figures for the first six months of the current financial year.

Between the end of May and end of November 2016, it reported a revenue of £21.6m, a 380 per cent rise from £4.5m during the same period in 2015.

The 2016 figures were made up of £18.7m from Filtronic Wireless and £2.9m from Filtronic Broadband. The wireless division’s sales were up from £1.9m, and the broadband sales rose from £2.6m.

Filtronic’s pre-tax profit was £1.8m, up from a £4.1m loss for the same period in 2015.

Reg Gott, Filtronic chairman, said: “We have made good progress in a relatively short period to return the business to profitability and we are encouraged with the growing opportunity pipeline.

“The results for the half year saw a marked improvement in the trading performance of the group with sales increasing sharply, particularly in Filtronic Wireless.

“This is a direct result of the actions taken over the past 18 months to restructure the business so that it is a sales and product strategy targeted at segments of our chosen markets where we can deliver more value to our customers and make improved profit margins.

“This more focused strategy also means that we have a more efficient overhead structure.

“We are confident that we are on the right product and technology pathways, and see many exciting opportunities in our chosen target markets.”

Filtronic announced last month it had signed a £13m deal to supply a defence contract. It will provide specialist high-frequency modules for a defence-related aerospace application. The contract is expected to generate £13m of net revenue over eight years.

Mr Gott said small revenues were expected from the deal in the second half of the fiscal year, with “more substantial contributions” following.

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