Shares in the British semiconductor manufacturer Filtronic experienced a four per cent increase, reaching 218.8p on Tuesday following the announcement of a new contract valued at $3 million (£2.3 million) with an undisclosed satellite communications client in the United States. The AIM-listed company indicated that this agreement is a continuation of an existing $8 million development programme, aimed at financing components essential for ramping up production.
Filtronic has been benefiting from a surge in demand for satellite technology, highlighted by a substantial order worth $68.1 million received from SpaceX last month. The company has not revealed whether the latest contract pertains to SpaceX.
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