TT set for uncertain year ahead

TT Electronics’ pre-tax profit rose by more than a quarter in 2011 to £31.8m on strong sales in the premium car market, but the company said it expected the wider economic uncertainty to hurt demand at its key electronics components unit – which accounts for 41 per cent of the group’s revenue – in the first half of 2012. Despite the manufacturer raising its dividend 60 per cent to 4.4p, shares in the London-listed company dropped as much as 10 per cent before closing down eight per cent at £1.87.