TT races ahead
The sensor and electronic component technology specialist TT electronics said today (17 March) that operational improvements and market recovery had helped deliver "excellent progress" during 2010.
Announcing company results for the year, group chief executive Geraint Anderson said the results were "testimony to the success of the actions which we have taken to build stronger relationships with our customers, to focus on markets where we can create the greatest value and to improve the performance of our operations".
TT was focused on completing the transformation of the organisation into a best-in-class global business, he went on, adding that he was confident that further improvements in performance would be delivered in 2011.
Revenue for 2010 was up 23% at £571.3m (2009: 463.5m) while operating profit grew 294% to £25.2m (£6.4m).
Chairman Sean Watson said revenue from customers in Asia increased by 49% and constituted 13% of overall revenue. Significant progress in China and India, he added.
