Electronic component and sensor technology firm TT Electronics said it saw "sustained progress" in the last quarter of 2011 and still expects profits to be significantly ahead of 2010.
"TT is delivering sustainable improvements in operating performance amidst considerable macroeconomic uncertainty," the firm said.
The company had a net cash position of £15m at the end of the 12-month period, compared with net debt of £9.9m at the beginning, helped by strong cash generation, continued progress in managing working capital and disposal proceeds.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
TT sold its subsidiary AEI Compounds, which manufactures polymer compounds for wire, cable and pipe industries, back in July for £8.6m.
"We have several continuing initiatives to further improve the cost base and the performance of operating facilities."
Savers will benefit from Plum’s 4.94% money market account
Savers will benefit from Plum's 4.94% product that relies on money market funds that closely track the Bank of England’s base rate. We explain why this could be good news for savers.
By Rupert Hargreaves Published
Revealed: Best funds for DIY investors
Wondering where to put your money? With thousands of investment options, which funds, ETFs, trusts are the best? Bestinvest has just released it’s best funds list - we have all the details to help you strengthen your portfolio
By Kalpana Fitzpatrick Published