Broker Ratings...... Update on the 9th of may. Date Company Name Broker Rec. Price Old target price New target price Notes 25 Mar 13 TT Electronics PLC Goldman Sachs Neutral 168.63 170.00 180.00 Retains 14 Mar 13 TT Electronics PLC Oriel Securities Buy 168.63 210.00 210.00 10 Jan 13 TT Electronics PLC Numis Buy 168.63 175.00 180.00 Reiterates
19 Apr '13
This was the announcement on 14 March so it's old news but it would seem to have been picked up by the iii.co.uk board (any others?) as a new story. Suspect the mention of a sales decline spooked a few people and in a quiet market the price was hit hard. Climbing back now but goes to show the markets are jittery. Well done BONDSMAN for getting in on the drop. Couldn't afford to extend my own position on TTG.
19 Apr '13
RNS seems OK
Just topped up with some more shares. Not sure why the price has dropped so much after the RNS the incentive plan seems good to me!!! They are a growing company with cash in the bank. I think maybe the MM is trying to stir up some business. Ex Dividend in May IMO the price will creep back up soon.
19 Apr '13
TT Electronics booked at 12.7% fall in its pretax profit to £23.4 million, from £26.8 million, at the same time hiking its dividend by 13.6% to 5p a share, from 4.4p. Revenue for the period was £476.9 million, from £509.6 million, down 6.4%. The firm's distribution costs and administrative expenses were both lower, as were finance costs. "The business performed well against the backdrop of a challenging market environment reporting an improvement in profitability as we made further progress towards our stated margin targets," said CEO Geraint Anderson in a statement. "We are now a wholly focused electronics business and we further expanded our global footprint and capacity in strategic regions, enhancing our ability to serve key customers," Anderson said. "In 2013, we will combine our existing capabilities to create a Sensing and Control business and focus investment to capture increasing market opportunities and drive value for shareholders."
13 Dec '12
Commenting on the acquisition, Group Chief Executive, Geraint Anderson said: "This acquisition provides an opportunity to further strengthen our IMS division and brings with it world class customers in our target markets, many of whom we already work with. We continue to identify and evaluate potential acquisitions to enhance the development of our Sensors and Components divisions which supply leading manufacturers in the defence, aerospace, medical, transportation and industrial markets."
13 Dec '12
Acquisition of ACW Technology business TT electronics plc, a global provider of performance critical technology solutions to leading manufacturers, announces it has acquired the majority of the UK business and assets of ACW Technology Limited (in administration). The Group has also agreed the transfer of associated production from ACW Technology (Zhuhai) Limited to the TT electronics facility in Suzhou, China. The acquired business provides manufacturing services to leading global customers in the defence, aerospace and industrial markets and will be integrated into the Group's IMS division. It is expected to deliver incremental revenue in 2013 in excess of £25m and will be immediately earnings enhancing on an underlying basis. The Group has paid consideration of £3.1m, including the repayment of existing debt facilities, and will acquire net assets of c£3.8m. The Group expects to incur exceptional one-off restructuring costs of approximately £0.9m in 2012 and £1.1m in 2013 in connection with the acquisition.
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