TT Electronics (TTG)

Sector:

Electronic and Electrical Equipment

Index:

FTSE Small Cap

101.00p
   
  • Change Today:
      1.60p
  • 52 Week High: 161.00p
  • 52 Week Low: 73.00p
  • Currency: UK Pounds
  • Shares Issued: 178.05m
  • Volume: 82,158
  • Market Cap: £179.83m
  • RiskGrade: 186

TT Electronics downgrades full-year outlook, shares tumble

By Michele Maatouk

Date: Monday 16 Sep 2024

LONDON (ShareCast) - (Sharecast News) - TT Electronics tumbled on Monday as it downgraded its full-year outlook, citing "operational efficiency issues" in two North American sites.
The engineer and manufacturer of electronic solutions for critical applications also said recent order intake in its North American components business has been for delivery through 2025, not in 2024 as had been expected.

As a result, second-half revenue is now expected to be around £15m to £20m lower than previously anticipated.

This, along with higher production costs, will impact the North American operating profit by £13m to £18m. Group adjusted operating profit for FY 2024 is now expected to be between £37m and £42m, it said.

TT said "clear plans" have been put in place to rectify the issues during the remainder of the year and potentially into the first quarter of next year. These include root cause corrective actions, improved factory planning and factory layout, although these measures are not expected to sufficiently mitigate the impact in FY24.

"Furthermore, over the course of August and so far in September whilst overall order intake has continued to be positive, the order intake for execution in 2024 in our higher margin components business has been materially weaker than anticipated with the orders received in Q3 more weighted for delivery in 2025, and recovery is slow and steady," it said.

At 0920 BST, the shares were down 22% at 96.28p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

TT Electronics Market Data

Currency UK Pounds
Share Price 101.00p
Change Today 1.60p
% Change 1.61 %
52 Week High 161.00p
52 Week Low 73.00p
Volume 82,158
Shares Issued 178.05m
Market Cap £179.83m
RiskGrade 186

TT Electronics Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.94% above the market average93.94% above the market average93.94% above the market average93.94% above the market average93.94% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
35.68% below the market average35.68% below the market average35.68% below the market average35.68% below the market average35.68% below the market average
8.57% below the sector average8.57% below the sector average8.57% below the sector average8.57% below the sector average8.57% below the sector average
Income
66.76% above the market average66.76% above the market average66.76% above the market average66.76% above the market average66.76% above the market average
87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average
Growth
79.24% below the market average79.24% below the market average79.24% below the market average79.24% below the market average79.24% below the market average
75.76% below the sector average75.76% below the sector average75.76% below the sector average75.76% below the sector average75.76% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 3
Sell 1
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TT Electronics Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Sep-24 11-Apr-24
Paid 15-Oct-24 15-May-24
Amount 2.25p 4.65p

Trades for 29-Aug-2025

Time Volume / Share Price
16:35 12,243 @ 101.00p
16:35 1 @ 101.00p
16:35 4,498 @ 101.00p
16:35 535 @ 101.00p
16:35 343 @ 101.00p

TT Electronics Key Personnel

Chair Warren Tucker
CEO Eric Lakin

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