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(Sharecast News) - Shares in aerospace products manufacturer Filtronic rallied to a 52-week high early on Monday after announcing a "significant new contract" win with SpaceX.
Although few details were provided regarding the nature of the contract, Filtronic said the agreement was valued at $20.9m and would be fulfilled in both FY25 and FY26.
Consequently, the AIM-listed group said it was now confident it would exceed current market expectations for revenue and profits in both FY25 and FY26.
Chief executive Nat Edington said: "We are delighted to have secured this substantial order, which underscores Filtronic's reputation for delivering high-performance RF solutions to our market-leading customer.
"This contract, alongside our growing momentum in strategic markets, provides us with increased confidence in our ability to exceed our growth targets for FY2025 and FY2026".
As of 0930 GMT, Filtronic shares were up 12.14% at 104.01p.
Reporting by Iain Gilbert at Sharecast.com
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