Trading Update

TT Group PLC 10 July 2000 TT GROUP PLC Trading Update During 1999 TT Group was adversely affected by the weakness of the Euro against Sterling. Over the last eighteen months corrective action has been taken. The workforce was reduced by 9 per cent. and the Group is now focused on its electronic and electrical businesses. Consequently trading in the first half of the year has improved. A number of new contracts have been won and the TT Group has strengthened its position as a supplier to the telecom and computer markets. The acquisition of BI Technologies in January has enhanced the Group's position as a leading manufacturer of specialist resistors and sensors with the further benefit of low cost manufacturing in Mexico and Malaysia. The disposal programme announced in March is going according to plan and the Group is confident of announcing a number of disposals later in the year. John Newman, Chairman, TT Group PLC, commented: ' Whilst the adverse impact of the weak Euro against Sterling has not totally evaporated, the corrective action we have taken to reduce operating costs, improve manufacturing efficiency and refocus is already paying off. I am delighted that we are seeing an improvement in trading in line with market expectations and that our disposal programme is going according to plan.' Enquiries: TT Group PLC Tel: 01932 856647 John W Newman, Executive Chairman College Hill Tel: 0207 457 2020 James Henderson
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