TT Electronics boosts profits

Electronic components supplier TT Electronics’s first-half adjusted pre-tax profit rose by more than half, boosted by strong growth at its core divisions, and said it was confident of meeting its full-year expectations. The company, whose core components and sensors divisions account for about 71 per cent of total revenue, said it saw potential to improve margins and achieve its target of eight per cent by the end of 2013. January-June pre-tax profit rose to £14.1m from £8.9m last year. Revenue rose 12 per cent on last year to £294.6m.