Electronics Production |
TT electronics sees sustained progress in 2011
"Trading in the last quarter of 2011 was in line with the Board's expectations and, as anticipated, profitability for the full year was significantly ahead of 2010", the company announced in a trading update.
Strong cash generation, continued progress in managing working capital, and the disposal proceeds have resulted in a net cash position of approximately GBP 15m at 31 December 2011 compared with net debt of GBP 9.9m at the start of the year.
"TT is delivering sustainable improvements in operating performance amidst considerable macroeconomic uncertainty. We are targeting markets with strong fundamental growth, designing and manufacturing differentiated products and increasing the breadth and depth of relationships with major customers. In addition, we have several continuing initiatives to further improve the cost base and the performance of operating facilities."
