Global electronic components supplier TT Electronics said sales in the first four months of the year (at constant exchange rates) were on a par with last year.
The group counted this as a good result, given the sharp increase in orders in 2011 following the Japanese earthquake.
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
Net debt as at May 4th 2012 was around £6.5m, compared with net cash of £15.2m at the start of the year, due to seasonal outflows of working capital and planned capital expenditure.
The group's performance for 2012 is anticipated to be in line with the board's expectations.
The shares fell 2.75p to 163.5p in afternoon trading on the day of the results.
JH
-
Will UK inflation rise ahead of BoE meeting?August’s inflation report will be published at 7am on Wednesday, 17 September, one day before the Bank of England’s next rate-setting meeting
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fearsWith a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth
