TT Electronics Notes Higher Revenue Despite Supply Chain Issues
WOKING, SURREY, ENGLAND -- TT Electronics said revenue in the four months ended Oct. 31 rose 11% from a year ago on a constant currency basis.
The EMS and components maker expects adjusted operating profit of about GBP35 million ($46.9 million) for the year, up from GBP27.5 million in 2020.
The company said the book-to-bill ratio was 140, meaning GDP140 worth of orders were received for every GBP100 worth of shipments.
The company cited continuing supply-chain constraints and higher costs, offset in part by efficiencies and price controls.
"Customer demand and order intake has been very strong in the period, across all our divisions reflecting customer wins and market demand for our design-led solutions across structural growth markets... We expect to deliver further margin improvement this year as we continue on our path to double digit margins," said Richard Tyson, CEO, TT Electronics.
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