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TT Electronics PLC - Woking, England-headquartered manufacturer of electronic components - Says its revenue growth has "accelerated" in the four months to October, as it expected. Records strong volume growth augmented by pricing and material pass-through costs. Says its order book remains "well above historic levels" across the business and provides excellent visibility for 2023. Expects to report full-year adjusted pretax in line with expectations. "Momentum across the group continues to be strong reflecting our successful positioning in structural growth markets. The team is executing well against the ongoing challenging backdrop, and we continue to expect to deliver margin improvement in the second half. While mindful of the wider macroeconomic backdrop, the continued growth in order book extends our visibility of revenues for 2023," CEO Richard Tyson comments.
I value your input Mr Picky. Of course my 195p is just a hope, but as a retired Accountant I like the company, and the direction it is going in -is pleasing to me. And I do not think the RBC target is so far fetched.
Yes, the RNS is very reassuring. My concern has been that the borrowings would rise too fast to accommodate their undoubted growth. They are not saying that year end borrowings will be down on a year before but they will be within
their target range. Not sure about 195p by Christmas unless the market is strong but some relative performance looks likely.
on track to deliver improved cash generation and a year-end leverage position within our target 1-2x net debt to adjusted EBITDA range.
before Christmas
IMO
The continued strength in our focus end markets, together with our customer positioning, is reflected in the Group's year-to-date organic1 constant currency revenue growth of 18 per cent. Revenue growth has accelerated in the four months to October as expected, with strong volume growth augmented by pricing and material pass through costs.
Our order intake continues to run ahead of our accelerating revenue growth, with book to bill of 106% in the four months to October. Overall, for the year to date, our book to bill is 127%. The order book remains well above historic levels across the business and provides excellent visibility for 2023.
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=ttg.L
Global supply chain constraints persist alongside continued inflation pressure from wages, material costs and energy. Prices are under continuous review to recover these costs; the ongoing nature of inflation dynamics will mean some lag in recovery.
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=ttg.L
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=ttg.L
Looks like we have seen the end of the downtrend today
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=ttg.L
They really need to shift their stock and get goods out. Raising the dividend level was clearly crazy and completely unnecessary, a strong CFO should have really pushed back on that one. Needs stronger financial management I think.
Think it will go sub 100p in the spring, need some guidance from the board re the debt.
They must be reading different financials to us and the rest of the market. Re-iteration... £1.20 I'm in.
Re-iteration
Beakybinder I share your concern about the borrowing getting out of control. I rights issue would kill the share price (its already dying). I attended the AGM earlier this year and they were confident that the borrowings would come down but I fear that the inflationary pressures have been worse than they feared.
Debt getting out of control, hence SP dropping, my bet is a funding round not far away...
154,97-156.74
steady as she goes
There were two price monitoring extensions after hours on 5th October. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the most recent automated execution on that day.
This almost certainly relates to a trade at 16.46 for the purchase of 33,186 shares at 158p. It indicates that the market in TT is not free flowing at the moment, indeed volume has been low over the last month relative to earlier in the year. In my opinion it means that the price is "wrong"; it is either too high and few people want to buy or too cheap and few people want to sell. We are some way off from the next regular trading update so we don't know how well they are coping in this inflationary environment. If the Board does achieve the guidance they have indicated and borrowing is down they are cheap(ish).
and yielding 4.114%
Very cheap IMO
155.48-159.41
147.26-148.50
narrowing
Outperform New Target - 325p
Am In full agreement
IMHO
Looks to be MM has sorted things now,
and will allow the market to adjust back
up to where it should be
IMO