thoughts?...19 Apr 2013 15:26
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."