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TT electronics Plc Business Report FY ended Dec. 2013
Business Highlights
Financial Overview |
(in million pounds) |
| FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | Rate of Change (%) | Factors | |
| Overall | ||||
| Revenue | 532.2 | 476.9 | 11.6 | 1) |
| Operating Profit | 19.0 | 25.4 | (25.2) | - |
| Revenue by Division | ||||
| Sensing and Control | 285.2 | 259.6 | 9.9 | |
| Components | 100.4 | 109.6 | (8.4) | 2) |
| IMS | 146.6 | 107.7 | 36.1 | 3) |
Factor
1) Overall
-In 2013, group revenue from continuing operations increased by 11.6%. On an underlying basis, revenue increased by 4.9%, excluding the effects of foreign exchange and the acquisition of ACW Technologies in December 2012.
2) Sensing and Control
-The division's revenue for the year increased primarily as a result of increased demand, and new business wins.
2) Components
-The division's reveue for the year decreased due to the slow start to the year across the division and the poor performance of the Connectors business.
3) IMS
-The division's revenue for the year increased because of particular success within the aerospace and defence markets.
-In 2014, production is planned to ramp up in Romania, establishing it a key center for the division.
Restructuring
-In 2013, the Company established the new Sensing and Control division to bring together its current strengths in sensor, control products and solutions.-It commenced the relocation of production from Fullerton, USA to Mexicali, Mexico.
-It expanded its Romanian facility, with 22 product lines already transferred from Germany and Austria at 31 December, 2013.
-The Company expanded its Bangalore engineering center.
R&D
R&D Facilities
-The Company expanded the recently opened Group engineering centre in Bangalore, increasing its engineering capacity with 84 engineers in place by the end of 2013.Investment Activities
Capital Expenditure |
(in million pounds) |
| FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | |
| Sensing and Control | 21.7 | 18.4 |
| Components | 4.5 | 4.8 |
| Sensors | 3.5 | 1.2 |
| Discontinued operations | - | 0.4 |
| Total | 29.7 | 24.8 |
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