TT electronics PLC
17 January 2006
Trading Update
It is anticipated that the group's trading profit from continuing operations for
the year ended 31 December 2005 will be in line with market expectations. The
group has achieved very strong cash generation and the Board's intention is to
propose that the final dividend is maintained at last year's level.
2005 was a year of consolidation for TT electronics. Decisive action was taken
to eliminate the loss-making businesses at AEI Power Cables Division at
Gravesend, AB Automotive (France) and Prestwick Circuits. These actions will
have a beneficial impact on future performance. The land which became surplus at
Gravesend was successfully sold. The initial payment was brought into our
interim results and the additional proceeds, which are expected to be
significant, will probably be received and accounted for as profit in 2007.
The group continues the migration of manufacturing to lower labour cost
countries where appropriate and the group's new facility in China, acquired in
March 2005, provides a good base from which to expand.
TT electronics has established a strong global position across a range of market
sectors. The group continues to develop new leading edge products to meet its
customers' needs, such as the successful Autopad sensor technology.
For further information please contact:
TT electronics plc Tel: 01932 856 647
John Newman, Executive Chairman
Biddicks Tel: 020 7448 1000
Zoe Biddick
This information is provided by RNS
The company news service from the London Stock Exchange
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