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TT Electronics PLC on Wednesday announced a statutory loss amid restructuring costs and lower revenue, while it expects annual adjusted operating profit to meet market expectations. The Woking, England-based manufacturer of electronic components said it swung to a statutory pretax loss of £9.6 million in the first half of 2025, from a profit of £6.7 million a year prior. Adjusted pretax profit fell 38% to £8.5 million from £13.8 million, while organic adjusted operating profit was down 30% to £13.0 million from £18.5 million. Revenue declined 13% to £237.9 million from £273.3 million. Cost of sales came down 12% to £191.7 million from £214.3 million, while administrative costs were 20% higher, at £42.3 million from £35.3 million. Restructuring costs were £13.8 million in the first half of 2025, compared to none a year prior. TT Electronics declared no interim dividend, noting continued uncertainty over the macroeconomic environment, compared to 2.25 pence a year ago. Looking ahead, the company said: ‘In the first half of 2025 we have implemented two important strategic actions to improve our future financial performance. We have made the difficult decision to close our Plano site and have launched a strategic review of our components business. Our Cleveland improvement plan is on track and delivering improved performance. ‘These improvement actions in North America, further progress in Europe and a resilient contribution from Asia are expected to underpin the step up in second half profitability. The board therefore expects full year adjusted operating profit to be in line with market expectations.’ TT Electronics cites a market consensus of £33.7 million for adjusted operating profit with a range of £31.6 million to £35.6 million. The consensus would be down 9.2% from £37.1 million in 2024, and 28% lower than £47.1 million in 2023. TT Electronics shares were 0.9% higher at 109.00 pence each on Wednesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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