Business
FY 22 Post Close Trading Update
FY 22 Post Close Trading Update.
About this update from Tt Electronics Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 23 February 2023\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n \n \n \n \n TT Electronics plc\n \n \n \n \n \n \n \n \n \n FY 22 Post Close Trading Update\n \n \n \n \n \n \n \n \n TT Electronics plc (\"TT\", \"the Group\"), a global provider of engineered electronics for performance critical applications, publishes the following trading update on the Group's performance for the year ended 31 December 2022.\n \n \n \n \n \n \n FY22 outcome ahead of expectations\n \n \n \n \n \n \n Group revenue growth in the final two months of the year continued to be strong, with organic growth1 for the year of 20% reflecting our successful positioning in structural growth markets and new project and customer wins.\n \n \n \n \n \n Adjusted profit before tax for the year is expected to be at or around the top end of the range of analyst consensus expectations2 with the outperformance driven by our Global Manufacturing Solutions (GMS) business.\n \n \n \n \n \n Leverage has reduced back into our 1-2 times target range as expected.\n \n \n \n \n \n We enter 2023 with good momentum, underpinned by a strong order book and will provide a full update with our Annual Results presentation on 8 March.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n TT Electronics plc \n \n \n \n \n \n \n Tel: +44 (0)1932 827 779\n \n \n \n \n \n \n \n Richard Tyson, Chief Executive Officer\n \n \n Mark Hoad, Chief Financial Officer\n \n \n Kate Moy, Head of Investor Relations and Communications\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n MHP\n \n \n \n \n \n \n Tel: +44 (0)20 3128 8100\n \n \n \n \n \n \n \n Tim Rowntree / Ollie Hoare\n \n \n \n \n \n \n \n \n \n Notes:\n \n \n 1. \n Organic growth is stated at constant currency and is calculated by comparing current year actual results to prior year results retranslated at current year actual exchange rates. Organic revenue excludes the impact of acquisitions and disposals.\n \n \n \n \n \n 2. ...