Shares of County Durham-based Filtronic plc rose more than 10% on Monday after it announced a further contract win with SpaceX valued at £16.8 million to be fulfilled in both FY2025 and FY2026.

Filtronic, a designer and manufacturer of products for the aerospace, defence, space and telecoms infrastructure markets, is based at North East Technology Park (NETPark) in Sedgefield and has offices in Leeds, Manchester, Camridge, and Maryland in the US.

“Consequently, the board is now confident the business will exceed current market expectations for revenue and profit in both FY2025 and FY2026,” said Filtronic.

The company’s shares have risen about 180% in the past 12 months to around £1.03 to increase the firm’s stock market value to about £225 million.

Filtronic CEO 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”.

On February 5, Filtronic had said its group revenue for the six months ended November 30, 2024, increased by over 200% on the prior year with sales of £25.6 million amid strong order inflow from SpaceX.

Operating profit was £6.8 million compared to an operating loss of £400,000 in H1 of 2024.