StockMarketWire.com - Electronics components and systems manufacturer TT Electronics posted a 24% rise in first-half profit after it added customers in its aerospace and medical businesses.

Pre-tax profit for the six months through June increased to £17.4m, up from £14.0m on-year.

Revenue rose 23% to £238.2m, or 20% in constant currency terms, comprising 8% organic growth and the rest from acquisitions.

TT Electronics declared an interim dividend of 2.10p per share, up 8% on-year.

'We have delivered strong revenue and profit growth alongside further margin progression in the first half despite a tougher market backdrop,' chief executive Richard Tyson said.

'The evolution of TT into a higher quality, better balanced group reflects our strategic focus on picking the right customers in the right markets and investing in the right capabilities.'

'Despite the current macroeconomic environment, our first half performance and order momentum position us well to make further progress in 2019 and beyond.'


At 9:28am: [LON:TTG] TT Electronics PLC share price was -3p at 218p



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