Filtronic PLC Covid-19 Impact Update (8839K)
27 Abril 2020 - 1:00AM
UK Regulatory
TIDMFTC
RNS Number : 8839K
Filtronic PLC
27 April 2020
27 April 2020
FILTRONIC PLC
COVID-19 IMPACT UPDATE
Filtronic plc (AIM: FTC), the designer and manufacturer of
products for the wireless telecoms and critical communications
markets, provides the following update in relation to Covid-19 and
its CEO search.
Covid-19
The health, safety, and welfare of our employees and our broader
stakeholder group continue to be our first priority. The majority
of our office staff have been working from home for a month now and
this is working well. Our principal IT systems have long been cloud
based and the nature of our work requires us to have robust and
very secure IT systems.
Our manufacturing and support operations are fully committed to
meeting our customer needs and our staff in these functions are
continuing to work normal hours, albeit with various measures taken
to enable required social distancing. We have made substantial
changes to workplace layouts, staff movement patterns, hygiene
procedures, protection and proximity measures.
As one would expect in the current circumstances, our supply
chain is a key concern. Although we are addressing some areas of
concern, we do not foresee any critical shortages at this time. Our
customer base remains positive and to date we have not been advised
of any anticipated programme curtailments or deferrals.
To this end our Covid-19 Business Continuity Team continues to
meet regularly to review government information and guidance
updates and to adapt our protection and mitigation compliance
measures accordingly.
CEO Search
The consequences of Covid-19 have however delayed our process to
secure a new CEO and we do not now expect a new CEO to join us
until beyond Q1 of our new business year, which commences in June
2020. Reg Gott will continue to serve as Executive Chairman until a
new CEO arrives.
Commenting on the outlook, Reg Gott, Chairman, said:
" Although the measures we have taken to protect our staff and
the business as a whole are somewhat disruptive to efficient
operations, we enjoy the support of a great team of staff committed
to meeting customer deliveries. We look forward to updating
shareholders on our trading performance post our full year ending
31 May 2020."
Enquiries
Filtronic plc www.filtronic.com
Reg Gott, Executive Chairman 0113 220 0000 or investor.relations@filtronic.com
Michael Tyerman, CFO
finnCap Ltd 020 7220 0500
Jonny Franklin-Adams/Hannah Boros (Corporate Finance)
Alice Lane/Sunila de Silva (ECM)
Walbrook PR Limited 020 7933 8780 or filtronic@walbrookpr.com
Paul Vann
Notes:
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
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END
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