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
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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."
-
Nationwide hikes FlexPlus current account fee by £5 a month – is it worth it?Nationwide’s FlexPlus current account is a favourite with customers, but it’s worth checking whether you are taking advantage of the perks after the monthly fee went from £13 to £18
-
Santander launches online pension that offers up to £1,000 cashbackSantander's self-invested personal pension offers customers cashback of up to £1,000 if they invest before 25 April next year - here is everything you need to know
