SURREY, UK – TT Electronics Plc reported year-to-date operating profits were down year-over-year on lower demand at its sensors and electronic systems, and electronic components business units. Specific numbers were not provided.
The company cited lower production in the automotive sector, where demand is expected to be off in the fourth quarter as well.
Electronic manufacturing services demand will remain in line with expectations, TT Electronics said.
The company expects to take a £5.3 million fourth-quarter charge related to the July closing of a South Wales plant and the proposed relocation of AB Electronic in Romford, UK, to China and India.