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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tt Electronics Plc | LSE:TTG | London | Ordinary Share | GB0008711763 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
8.50 | 5.06% | 176.50 | 175.50 | 179.50 | 176.00 | 165.00 | 166.50 | 495,522 | 16:35:04 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electronic Components, Nec | 613.9M | -11.8M | -0.0670 | -26.27 | 309.76M |
TIDMTTG
RNS Number : 7467M
TT Electronics PLC
01 August 2017
1 August 2017
TT Electronics plc
Change to Reporting Segmentation
TT Electronics ("TT" or the "Group"), a global provider of engineered electronics for performance critical applications, is today announcing changes to the names and constituent business of its external reporting segments to better reflect how the businesses are managed and organised to address their markets.
Following the announcement on 19 July 2017 that TT has entered in to a conditional agreement for the sale of its Transportation Sensing and Control division, the results of this division will be transferred to discontinued operations.
TT has re-organised its continuing operations to move the Passive Components business from the Advanced Components division into the Industrial Sensing and Control division, with the division being renamed Sensors and Specialist Components. The main driver for bringing these two businesses together is to allow a joined-up approach in their routes to market, facilitating key account management with our distributors and to support future growth.
The remainder of the Advanced Components division will be renamed Power Electronics, to reflect the change in business mix following the integration of Aero Stanrew into the Group. No change has been made to the Integrated Manufacturing Services division, apart from it being renamed Global Manufacturing Solutions.
Previously all costs managed centrally were allocated to the divisional segments. Following a review it is now considered more appropriate for head office costs which are not related to the operating activities of the trading units to be held centrally.
As a result of this change, the continuing operations will be reported under the following divisional segments:
-- Sensors and Specialist Components -- Power Electronics -- Global Manufacturing Solutions
The make-up of the new segments and the associated revenues are shown below
Old Segment Business Unit New Segment --------------------- --------------------- ----------------------- Industrial Sensing Industrial Sensing & Control & Control FY 2016 GBP64.4m FY 2016 GBP64.4m --------------------- --------------------- ----------------------- Sensors and Specialist Passive Components Components FY 2016 GBP65.1m FY 2016 GBP129.5m --------------------- --------------------- ----------------------- Advanced Components Power Electronics Power Electronics FY 2016 GBP121.3m FY 2016 GBP56.2m FY 2016 GBP56.2m --------------------- --------------------- ----------------------- IMS IMS Global Manufacturing FY 2016 GBP147.0m FY 2016 GBP147.0m Solutions FY 2016 GBP147.0m --------------------- --------------------- -----------------------
For the purpose of comparison, the Group is today publishing its segmental results for the financial year 2016 and the first half of 2016 on the new basis, as shown below:
Income statement information
2016 ================ ============= =========================== ========== ============ Sensors Power Global Total Corporate Total and Specialist Electronics Manufacturing Segments Continuing GBPmillion Components Solutions Operations ==================== ================ ============= =============== ========== ========== ============ Sales to external customers 129.5 56.2 147.0 332.7 - 332.7 Segment underlying operating profit 15.6 5.0 6.3 26.9 (6.3) 20.6 Margin 12.0% 8.9% 4.3% 8.1% - 6.2% H1 2016 ================ ============= =========================== ========== ============ Sensors Power Global Total Corporate Total and Specialist Electronics Manufacturing Segments Continuing GBPmillion Components Solutions Operations ==================== ================ ============= =============== ========== ========== ============ Sales to external customers 60.6 26.3 72.3 159.2 - 159.2 Segment underlying operating profit 7.1 1.9 2.4 11.4 (3.1) 8.3 Margin 11.7% 7.2% 3.3% 7.2% - 5.2%
Segment assets and liabilities
Assets Liabilities ======= ============ GBPmillion 2016 2016 ============================== ======= ============ Sensors and Specialist Components 127.3 21.7 Power Electronics 71.2 11.2 Global Manufacturing Solutions 82.8 25.6 Segment assets and liabilities 281.3 58.5 Discontinued operations 115.4 39.6 Pension liability - 5.7 Unallocated assets and liabilities 72.7 132.2 ============================== ======= ============ Total assets and liabilities 469.4 236.0 ============================== ======= ============ Capital Depreciation expenditure & amortisation ============= ================ GBPmillion 2016 2016 ============================= ============= ================ Sensors and Specialist Components 8.1 6.3 Power Electronics 2.3 2.4 Global Manufacturing Solutions 5.2 3.5 Total continuing operations 15.6 12.2 ============================= ============= ================ For further information please contact: TT Electronics plc Tel: +44 (0)1932 825 300 Mark Hoad, Chief Financial Officer Emma Darke, Head of Investor Relations and Communications MHP Tel: +44 (0)20 3128 8100 Tim Rowntree / Katie Hunt / Ivana Petkova / Hannah Winter Notes: The Group's interim results will be announced on 11 August 2017
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
August 01, 2017 07:00 ET (11:00 GMT)
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