Revenue has soared by 121% at radio frequency and microwave technology specialist Filtronic, with momentum to be carried into next year.
The Sedgefield-based business, which also has a base in Leeds, saw revenue climb to £56.3m in the year to the end of May, up from £25.4m the year before, as operating profit more than tripled to £13.4m from £3.6m. Nat Edington, chief executive of the AIM-listed manufactured, called it a "transformative" year for the business, which recently expanded manufacturing capabilities at its NETpark site.
Filtronic has scored a number of high value contracts with established, aerospace, defence and space operators including Leonardo and Airbus. But it has been its landmark deal with US rocket company SpaceX which has set it on a course of accelerate growth.
In results published for investors on the London Stock Exchange, Filtronic said delivering for increased demand from Elon Musk's firm had been a defining moment of the year. Bosses said it required a step change in production volumes and brought more complex operations with investment having gone into factory equipment, workforce talent and automation.
It said its ability to deliver on time and at scale for SpaceX had earned its trust and helped it push further into the European space market. There have been additional contract wins with US communications giant Viasat, the European Space Agency and Airbus for its OneWeb satellite constellation.
The firm is now focusing on the European and US markets but says it will try to expand its pipeline of work for other global customers. To support the growth it has upgraded its engineering capabilities, including with the launch of a Cambridge office, which it says has allowed it to access a larger pool of talent. The site will be used to grow Filtronic's capabilities beyond radio frequency technology and into digital, software and systems.
Nat Edington, chief executive, said: "FY2025 has been a transformative year for Filtronic, showcasing the successful execution of our growth strategy. 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 FY2026, we are confident in our trajectory, with a strong order book, healthy cash position, and a strengthened leadership team in place. The transition to gallium nitride technology, expansion into higher-frequency bands, and our move to a new, larger manufacturing facility will enable us to scale effectively and capitalise on the significant opportunities ahead."
Mr Edington said Filtronic had started its 2026 financial year with strong momentum and a "robust" order book, as well as the capability to scale further. He added: "Early trading has been encouraging, with continued demand from space and aerospace and defence customers and a growing pipeline of opportunities."
