Operational edge helps TT Electronics ride out economic slump
The component and sensor technology specialist TT electronics has reported that it is addressing "considerable macroeconomic uncertainty" by making sustainable improvements in operating performance.
The Weybridge, Surrey-based firm – which works with the automotive, defence, aerospace, telecommunications, computing and industrial electronics sectors – said that as well as continuing initiatives to further reduce costs and improve the performance of its operating facilities, it was targeting markets with strong growth potential, designing and manufacturing differentiated products and "increasing the breadth and depth of relationships with major customers".
There had been an improvement in performance during 2011 over that achieved in 2010 and TT said it was well positioned to realise further improvements in performance.
Strong cash generation, continued progress in managing working capital, and the disposal proceeds have resulted in a net cash position of approximately £15m at 31 December 2011 compared with net debt of £9.9m at the start of the year.
