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.
Order receipts have been good during the reporting period, especially for the Components and Sensors divisions, with many key account customers outperforming their sectors, providing visibility for a strong second half performance, the group said.
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
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
-
8 of the best properties for sale with equestrian facilitiesThe best properties for sale with equestrian facilities – from a Georgian manor in Ceredigion, Wales, to a period farmhouse with an equine swimming pool in Banbury, Oxfordshire
-
Energy bills to rise by 1.2% in January 2025Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
