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Trading statements

TT Electronics trading in line in early 2017

12 May 2017 07:49

TT Electronics said trading in the four months to the end of April 2017 was in line with its expectations overall.

The group's revenues were 10% higher than the prior year and 1% higher on an organic basis, the company said.

Its order book was strongly ahead of the prior year, giving the company better visibility of the outturn for 2017 and reflecting a continuation of the momentum from the end of 2016.

"The development of our order book demonstrates that our strategy to position ourselves in structural growth markets where there is increasing electronic content is delivering results," it said.

During the period, TT Electronics acquired the assets of Cletronics Inc, a small US-based manufacturer of electromagnetic components for the aerospace industry, for $1.2m on a cash and debt free basis.

"The acquisition will help to accelerate the strategy for our power electronics capabilities in North America," the company said.

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