A TECHNOLOGY company has returned to profitability with revenues increasing by 160 per cent to reach £35.4 million for the year to the end of May 2017.

Filtronic, which started in Shipley but is now based in Yeadon, has announced its full year results today, outlining a strong end to the financial year for the electronics equipment group.

The results show an operating profit of £1.7m, in line with the latest expectations, and considerably up from the £7m operating loss of last year.

The 2017 figures also show a considerable increase in sales revenue, two and a half times more than the 2016 figure of £13.6m.

Success in the financial year was initially down to sales of ultra wide band integrated antennas, backed up by a growth in demand for a broader range of filter products across the telecommunications and public safety markets.

The figures are made up of £30.5m in revenue from Filtronic Wireless, which more than tripled its sales revenue in the year, leaving an operating profit of £3.5m. Sales revenue in the Filtronic Broadband business was £4.9m for the year, a year-on-year sales growth of 6.5 per cent, leaving an operating loss of £0.9m.

Chairman Reg Gott said: “Both our Filtronic Wireless and Filtronic Broadband businesses have made excellent progress over the past year toward our key strategic objectives of broadening our customer base and expanding our product portfolio in order to widen our addressable market and return the Company to profit.

"Notwithstanding this progress, we are still in the early stages of this strategy and the bulk of our revenues will remain concentrated across a small number of customers in the mobile telecommunications infrastructure market for the near term."