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TT Electronics profits jump 38% on higher revenue, margins

By BFN News | 09:34 AM | Wednesday 06 March, 2019


Advanced electronics group TT Electronics booked a 38% rise in annual profit as it boosted revenue from acquisitions and organically, while improving margins. Pre-tax profit for the year through December rose to £31.5m, as revenue climbed 19% to £429.5m. Operating margins expanded by 110 basis points to 7.8%. '2018 was an excellent year for TT, with a strong performance on all key metrics,' chief executive Richard Tyson said. 'We are particularly pleased with the significant organic growth and margin progression in these results.' 'We enter 2019 with a better-balanced business, a strong order book, and more self-help opportunity.' 'We are well placed to navigate uncertain macroeconomic conditions and the group overall remains on track to make further progress in 2019 and beyond.' At 9:34am: (LON:TTG) TT Electronics PLC share price was +8.25p at 210.25p Story provided by StockMarketWire.com

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