Tt Electronics Share News (TTG)

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119.80 0.80 (0.67%)

Bid:

116.40

Ask:

119.60

Spread: 3.20 (2.749%)

Market Cap: £213.71m

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Weak demand continues at TT Electronics

Wed, 13th May 2009 08:33

Sensor and electronic components firm TT Electronics said 'significant weakening in customer demand' continued in January and February as the global economic recession severely affected most of its major markets. "Although there is as yet no evidence of an improvement in our key markets, overall trading remains in line with our expectations," the company said in a statement."The outlook for the year remains in line with our expectations," it added.TT Electronics continues to reduce its cost base. The restructuring of its Sensors division has continued with 225 job cuts in Germany effective from 1 April, it said.