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(Sharecast News) - Electronic components manufacturer TT Electronics said on Monday that revenue in the five months ended 31 May had fallen amid continued softness in its North American business.
TT Electronics said revenues were down 5.5% year-on-year on an organic basis, as a "strong performance" in Europe was offset by headwinds in Asia and North America.
The London-listed group stated its book-to-bill ratio in the period was 101%, again underpinned by a strong performance in Europe, offset by continued softness in its North American business and recent US order deferrals impacting its Asian operations amid continued uncertainty around Donald Trump's so-called "reciprocal" tariffs.
Looking ahead, TT Electronics noted that the aerospace and defence sector remained "strong" in the current climate and said that while it remains mindful of the uncertainty created by the continued "challenging market backdrop", it continues to expect FY adjusted operating profits to be in line with previous guidance.
"The board notes that given the forecast second half weighting of profits and cash collection, it is likely that the June 2025 leverage will be slightly above 2x," added TT Electronics.
As of 0945 BST, TT Electronics shares were down 1.33% at 207.20p.
Reporting by Iain Gilbert at Sharecast.com
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