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Trading statements

TT Electronics' overall trading in line with views

11 May 2016 07:49

TT Electronics said overall trading has been in line with its views, with group revenue 4% higher than the prior year at constant currency and unchanged on an organic basis.

"The group's order book is in line with the prior year, before the additional contribution from Aero Stanrew. Trading results in the year to date have been favourably impacted by exchange rate movements compared to the prior year," the company said in a trading update.

"The integration of Aero Stanrew has progressed well, with the majority of the basic integration complete. The focus is now shifting to opportunities to enhance value through collaboration with other TT businesses, and this is showing encouraging signs."

CEO Richard Tyson continued:

"We have made a good start to the year notwithstanding ongoing macro-economic volatility, and are pleased with the progress we have made in executing our strategic priorities. ... We remain confident in our ability to return the business to sustainable profitable growth in the medium term."

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