- Wireless business facing sharp fall in activity
- Second half Wireless turnover to be 60 per cent lower than previous six months
- Maintains prospects for full-year 2015 are positive

Wireless telecoms group Filtronic said its wireless business is facing a sharp, but temporary, fall in activity for the remainder of the financial year as a number of defer orders.

"A number of potentially large projects, where Filtronic Wireless has been approved as a supplier, have been deferred beyond the end of the group's financial year end.

"The last few months have seen a realignment of the various operators in several key markets for 4G/LTE, either involving the financial consolidation of the participants or swapping of spectrum between competing networks. This has led frequently to revisions and delays in the roll-out of infrastructure projects," the Yorkshire based group explained.

Filtronic now expects that Wireless turnover for the second half will be around 60% lower than in the first half year, taking the Wireless business (including Antenna) into a small operating loss for the six month period.

The group's Broadband business has performed as expected with underlying sales for the second half expected to be at a similar level to those for the first six months.

Turnover is expected to benefit from a sizeable last-time buy on one legacy customer programme.

Broadband's second half operating loss will be slightly lower than that for the first half, and the last two months should see this activity recovering to earn a small operating profit, the group said.

Overall the group is expected to be broadly break even at the operating profit level for the full-year and the prospects for full-year 2015 are positive, it added.

Its shares fell 21.54% to 38.25p at 08:30 in London.


CJ

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