Alliance News1 Apr 2025 11:07
Strip Tinning Holdings PLC, up 98% at 36.80 pence, 12-month range 17.75p-84.00p. It predicts a narrower loss and says the supply of an offering for a US contract will likely not fall into the crosshairs of US tariffs on automobile imports. The supplier of specialist connection systems to the automotive sector expects its adjusted loss before interest, tax, depreciation and amortisation in 2025 to be GBP900,000, "half that reported" for 2024. "Trading in the Battery Technologies division has been strong, and the board now expects divisional revenue for FY25 to be more than 2.5 times FY24. This strong performance in the higher margin BT division is more than offsetting softness in the Glazing division, reflective of the wider automotive sector," it adds. Strip Tinning is supplying a Cell Contact System for battery pack modules for a US based autonomous vehicle programme. "This contract is gathering pace and is the primary driver of the increased sales in 2025 as sales of pre-production parts has increased," it adds. "The board does not currently anticipate the supply of the CCS will fall under the recently proposed US auto parts tariffs, as the designated export commodity category code, under which the CCS is already being exported to the US, does not fall within the automotive parts ECC coding categorisations." In addition, Strip Tinning says it has applied for a UK government automotive grant for up to GBP5.2 million as it continues to "assess its optimum options" to secure funding needed for operational demands. News on the outcome is expected early in the third-quarter. Despite the jump on Tuesday, shares are still down some 4% year-to-date.
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