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Electronics Production | September 12, 2006

TT Electronics report higher profit

UK based TT Electronics has reported a 14% hike in first half pre-exceptional profits thanks to stronger sales and the closure of certain loss making operations.
Pre-tax profit for the six months ended 30 June improved to £3m before an exceptional profit of from the sale of the Gravesend site. Revenue from continuing operations was £.8m, up 5% from a year ago.

TT Electronics said it will continue progressively to transfer manufacturing to low cost economies to enhance margins. TT recently announced plans to close its factory at Blyth and transferring operations to existing sites in South Wales and Malaysia.

”In the electronic sector we have been successful in winning orders for our sensors from our core automotive customers and demand for our electronic components is stronger”, Executive chairman John Newman said. The electrical sector has also delivered good results and has benefited from high demand for both power generation equipment and connection systems, particularly for the defence market.
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December 13 2018 1:08 pm V11.10.14-1