StockMarketWire.com - TT Electronics posts underlying pre-tax profits of GBP19.2m for the year to the end of December - down from GBP27.6m in 2014, 36% lower at constant currencies.

Revenues of GBP509.9m were down 3% - - 2% lower at constant currencies.

The dividend was maintained at 5.5p per share.

On a statutory basis, the group reports a pre-tax profit of GBP13.8m against a loss of GBP5.9m last time.

Chief executive Richard Tyson said: "We have made good early progress in executing the strategy we set out at the start of the year to stabilise the business and create a platform for growth. In difficult markets we have delivered results in line with our expectations. Our cash flow performance has been excellent. The acquisition of Aero Stanrew represents an important step in our development and growth.

"The Operational Improvement Plan is largely complete and we will now make further changes to our operational footprint which will enable us to continue to invest in the business and future growth. Although we recognise that we are facing a tougher macro-economic environment, the combination of our self-help actions and the contribution from Aero Stanrew mean that we are on track to make progress in 2016. We remain confident in our ability to return the business to sustainable profitable growth in the medium term."




At 1:17pm: [LON:TTG] TT Electronics PLC share price was +3.63p at 156.63p



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