TT Electronics profit plunges

Shares of electronic component and sensor technology firm TT Electronics plummeted after it revealed a sharp decline in half year pre-tax profit.

Shares of electronic component and sensor technology firm TT Electronics plummeted after it revealed a sharp decline in half year pre-tax profit.

The Surrey-based group, which supplies electronic components to manufacturers in the automotive, defence, aerospace and medical industries, said pre-tax profit plunged to £12.5m for the six months ended 30 June 2012 from £20.8m before as the uncertain macroeconomic environment continues to hurt demand at its key electronics components unit.

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