TT electronics to meet full-year forecasts

TT electronics said it was on track to meet annual expectations as the company made a good start to the year with a sales increase of 2.5 per cent on a constant currency basis.

TT electronics said it was on track to meet annual expectations as the company made a good start to the year with a sales increase of 2.5 per cent on a constant currency basis.

The group - which supplies technology to manufacturers - reported strong trading results in the four months to April, driven by the performance of newly acquired ACW Technology.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

However, underlying sales fell 2.6% as a result of difficult market conditions and less orders during the last quarter of 2012. Orders have improved over the first four months of the year.

The company added that it has experienced increasing demand for intelligence and control in transportation and industrial manufacturing.

Advertisement - Article continues below

TT electronics is working to form a Sensing and Control business by combining its sensor capabilities with its power management and control unit.

"This will develop our core strengths with the potential to deliver significant growth through enhanced market access and increased innovation," the firm said in a statement.

In the statement, the company also said there was further scope to improve margins by expanding established lower cost manufacturing locations in Mexico, India, China and Romania.

Implementation of the new structure will be complete by the beginning of June.

The balance sheet remains strong with capacity for investments in new product developments, operations and acquisitions, TT electronics concluded.

Shares fell 0.14% to 173.75p at 13:47 Thursday.

Advertisement - Article continues below


Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020
Share tips

Class acts going cheap: buy into Europe’s best bargains

Value investing appears to be making a comeback, while shares on this side of the Atlantic are more appealing on metrics such as price/earnings ratios…
16 Jan 2020

Most Popular


What does the coronavirus crisis mean for UK house prices?

With the whole country in lockdown, the UK property market is closed for business. John Stepek looks at what that means for UK house prices, housebuil…
27 Mar 2020
UK Economy

The UK’s bailout of the self employed comes with a hidden catch

The chancellor’s £6.5bn bailout of the self employed is welcome. But it has hidden benefits for the taxman, says Merryn Somerset Webb.
27 Mar 2020
UK Economy

Debt jubilee: will our debts be written off?

The idea of a "debt jubilee" – general society-wide cancellation of debt – goes back to Biblical times. Could it happen again? And would it really do …
28 Mar 2020

Gold is hard to find right now – so should you be buying?

With demand through the roof and the physical metal hard to find, it's not the best time to buy gold. But right now, says Dominic Frisby, you want to …
25 Mar 2020