Electronics Production | October 28, 2009
TT electronics sales in Q3 in line with management expectations
Sales in the third quarter continued to be below the same period last year for UK based TT electronics, but were in line with management expectations.
The Group has continued to trade profitably on a monthly basis due to the actions implemented to align the cost base with current levels of demand. The new divisional structure introduced to improve execution, facilitate cross divisional working and increase sales continues to yield benefits. Significant progress has been made during the year in restructuring the Group's businesses and reducing the cost base, with measures taken expected to lead to an annualised cost reduction of over £30 million. Image source: TT electronics