StockMarketWire.com - Manufacturer TI Fluid Systems has reported group revenue increased 0.9% in the third quarter year-over-year against a softer global light vehicle production market.

Group revenue was down 1% on a constant currency basis in the quarter, which the group said represented 'a solid outperformance' of global light vehicle production in the third quarter of 2.2%.

In the nine months to September 2019, the group reported revenue of €2,516.6m, despite a 5.9% decline in global light vehicle production. On a constant currency basis, revenue decreased 3.9% period over period and outperformed global light vehicle production by 2%.

Third quarter trading by region, on a constant currency basis, saw revenue increase 2.8% in Europe and Africa, while in Asia Pacific, revenue was flat year over year.

The rate of decline in North America reduced to 7.7% from 8.1% in the first half of the year, but the group said the region 'continued to be impacted by mix and last year's strong comparable period'.




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