Electronics Production | March 17, 2008
TT Electronics cautious about 2008
TT electronics posted a higher underlying pretax profit for the full year and stays cautious for 2008, as challenges in the broader economic environment are possible.
The electronics component manufacturer said its pretax profit rose to £33.3 million (PY: £ 31.2 million) before exceptional profit in 2006, which is a 7% increase. Revenue from continuing activities rose to £544.9 million (PY: 539.4 million), Hemscott reports. The operating profit from continuing activities improved to £37.7 million (PY: £36.5 million) before exceptional gain in 2007. “Whilst current trading is expected to remain overall similar to 2007, the further reorganisation of operations, difficulties in the credit markets and concerns as to the effect on the global economy causes the board to take a cautious view for the current year,” executive chairman John Newman said.