StockMarketWire.com - TT Electronics reported operating profit was 44% higher from £21.7m to £31.3m in the year to 31 December.

Management said this was due to continued customer focus, which drove new contract wins; strong sales performance in Asia.

TT reported operational efficiency improvements supported profit growth, while Aero Stanrew continued to perform well following its successful integration.

The company entered 2017 with good momentum and a robust order book.

FINANCIAL HIGHLIGHTS

- Robust organic revenue performance and returned to organic revenue growth in the second half of 2017

- Underlying operating profit up 26%, underlying EPS up by 19% at constant currency

- Good underlying cash conversion at 87%, further enhanced by £12.3m from sale of properties

- Return on invested capital improving, up 130bps

- Increase in dividend reflected progress in 2016 and confidence in 2017


At 11:01am: [LON:TTG] TT Electronics PLC share price was +6p at 169.25p



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