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.
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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."
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