Sarantel sees revenue jump 160 per cent in second half

Antenna maker Sarantel said that it is progressing on its path to reach break-even after an impressive rise in revenue in the second half.

Revenue in the six months to September 30th was 160% higher than the first half, helped by a 62% increase in unit sales. As a result, full-year revenues are expected to be up 35% year-on-year at £3.0m.

The company, which make miniature filtering antennas for mobile and wireless devices, said this growth is mainly due to a number of military programmes now moving in production.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Chief Executive David Wither said: "Sales growth in the second half has been encouraging and we continue to focus on the progress required to reach break-even. We remain confident about the longer term prospects for Sarantel's technology as our GeoHelix antennas deliver a level of positional accuracy and reliability essential for a rapidly growing number of location-sensitive applications.

"Our growth potential is currently restrained by our limited sales and engineering resource. However, our leading-edge technology positions us well to benefit from increasing military demand for safety critical applications, along with growth in mobile social networking and location-based advertising in the consumer market."

Sarantel had cash balances of £0.1m by the end of the fiscal year.