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TT Electronics plc (lon:ttg)
TT Electronics – Up 40% On The Day.
TT Electronics plc Financials
Item
Current Period
Previous Period
Year
2020
2019
Period
6 Months
6 Months
Revenue
£210m
£238m
Earnings
Adjusted Earnings
EBITDA
Adjusted EBITDA
Statutory Profit
(£5m)
£5m
Adjusted Profit
Total Debt
Net Debt
£89m
£69m
TT Electronics plc Share Price
Grade:
The Slate Grade - Shares That Are Of No Great Interest To Me, A Solid Business With No Reason To Expect A Price Change.
Title:
TT Electronics – Up 40% On The Day.
Company:
TTG - TT Electronics plc
Share Price Then:
261p
Author:
Ian Smith
Date:
Thu 10 Sep 2020
Comments:
TT Electronics have been on a gradual upward trend from around 140p to 250p in 2020 before the COVID price drop, so todays big rise is a recovery of lost value rather than a new high.
The share price went from 190p to 271p on the news of the launch of Virolens a COVID 19 detection device, for which TT is the manufacture and there are initial orders for £2m, which could rise to £280m.
With annual sales of around £400m-£475m TT manufacture electronics for specialist markets rather than retail and COVID hit them less hard, sales down 10%-24% in the months since the start of the 2020.
Probably because of its markets TT is often an essential business, and as it has design and manufacturing facilities in the UK, US, Sweden and Asia restriction have varied.
The group revenue comes from three divisions, Power & Connectivity (29%), Global Manufacturing Solutions (45%) and Sensors and Specialist Components (26%) selling into Medical (24%), Aerospace (23%) and Industrial (42%)
Whilst the company is solid this price rise does have a big risk of being temporary.
Read Count:
508
Buy/No Buy In A Nutshell
Negatives
If Virolens turns out to be less of a success a possible big short term drop.
Positives
Very solid business and a possible big revenue boost from Virolens
Initial Review Price
241p
Last Review Price
241p
Last Review Date
10-Sep-2020
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