Tt Electronics Share Discussion Threads

[3rd eye] 09/12/2016 16:22

TTG TTG Electronics...... breakout confirmed...........

[rathkum] 26/8/2016 18:03

Record Car Sales Should Boost Engineering Firm TT Electronics

By Malcolm Stacey | Friday 26 August 2016


Hello Share Funsters. I don’t like investing in the motor industry because I think we should all do more walking, I hate air pollution and don’t really like driving. But this should not stop my bringing to your attention companies in this line which I think might make you some money. Though you must always do your own research as I could be - and often am - wrong.

TT Electronics (TTG), which makes car parts and gadgets for planes and the medical world etc, is a case in point. Results for the first half of this year showed profit before tax up by a quarter to £11.4 million. And that nice hike was on increased revenue of 5%. Which means, of course, TT is making more profit out of the cash it brings in. A sign of improved efficiency.

British car making, though mostly carried out by foreign firms, is the country’s big success story. As I write it’s announced a record year for sales. The population’s love of cars is bringing in the sheaves big time. Not to mention improved sales abroad, thanks to the falling pound, which is in turn thanks to Brexit.

The growing move towards hybrid cars is also going to be a big help for TT Electronics.

The firm took over Aero Stanrew, a respected electro manufacturer at the end of last year - and that deals seems to be doing rather well for it.

TT also spends plenty of dosh on research and development, and the electronic gadgets in our modern cars and other areas are getting more sophisticated day by day. So we have a growing market, a firm which is improving efficiency and whose profits are growing at a faster rate than revenues.

What more could you want? Except that if money becomes tighter for consumers, as many a gloomster likes to say on this sparkling website, I suppose car sales, which are sort of in the luxury bracket, might suffer. If however, you think spending will continue to boom, TT Electronics is certainly worth a look.
- See more at:

[rathkum] 11/8/2016 16:36

TT Electronics turnaround in full swing

By Harriet Mann | Thu, 11th August 2016 - 13:58


TT electronics sensor technology turnaround R&D growth revenue operating profit
Returning to profitable growth, TT Electronics (TTG) is 18 months into its turnaround strategy and is already beating expectations. Its flagship transport division is back in the black and its larger Research and Development budget is facilitating growth. The boss also reckons it's well prepared to weather any possible storms ahead.

Making components and sensors for transport, aerospace and defence, TT Electronics has been battling against some harsh markets. Still, revenue rose 5% to £277 million in the six months to 30 June, and tighter control on costs and a chunky contribution from new family member Aero Stanrew helped drive profits higher.

Its loss-making transportation business is back in profit, which will come as a relief as its turnaround strategy wouldn't work without it. Group operating profit jumped 32% to £13.7 million, which drove pre-tax profit up a quarter to £11.4 million and earnings per share (EPS) up a fifth to 5.1p.

graph 1

It's been a difficult couple of years for the group, but its strategy finally has "traction" after 18 months, chief executive Richard Tyson told Interactive Investor. The boss was parachuted into the company in 2014 after a large restructuring plan promising profitable growth failed to deliver.

The group's main transportation business was focusing on sensor controls for cars as it was planning its move from Germany to Romania, but troubles in the move resulted in missed opportunities. Changing the dynamics, Tyson has refocused the team and expanded its reach.

Returning the group to profitable growth despite fattening up its research and development budget to £22 million is commendable, and has already resulted in securing orders that should drive growth. It's an important part of the business, Tyson explains, and is increased where opportunities arise - its industrial sensors budget increased by £700,000, for example.

But a 100-basis point improvement in the operating margin doesn't happen by itself. The electronics group has been improving its cost efficiency, which includes reducing its headcount and relocating.

While cash conversion inched slightly lower to 68%, free cash flow was -£4.9 million and net debt grew to £70.1 million. Still, the group's got its eyes open for any further acquisition opportunities as they arise.
Fair share of difficulties

TT Electronics has its fair share of difficulties: it has exposure to the automobile industry in China, where economic growth is slowing, and relies on North America, which has been hit by turbulence in oil and gas markets.

But the group reckons China is still a large market opportunity and is confident it has reacted quickly against US macro headwinds, with demand already picking up. It should also be resilient to any impact from June's Brexit vote.

Crashing 57% in the tail half of 2014, TT Electronics' share price recovery has been slow so far due to wider macro influences.

Investors should be reassured TT is doing the groundwork for double-digit growth into 2017Now at 144p, the group is using its 200 day moving average and 32.8% Fibonacci retracement as resistance. Numis analyst David Larkam reckons the shares, trading on 13.5 times forward earnings, are worth 180p, which provides 25% upside from these levels.

"As management continue to demonstrate the strengths of the group, we see a rating in the mid-teens as achievable and have raised our price target to 180p to reflect this and the currency-driven upgrade to numbers," says Larkam.

He has pencilled in 2016 sales of £567.9 million, pre-tax profit of £23.8 million and earnings per share of 10.6p. This should jump to £583.5 million revenue in 2017, with profit of £26.5 million and EPS of 11.7p.

These results should reassure investors that the group is doing the groundwork needed to help it achieve the double-digit growth expected into 2017.

[rhomboid] 11/8/2016 08:58

I'm not so impressed

"The profit for the period reduced to £3.9 million (H1 2015: £4.1 million) after a charge for items excluded from underlying profit of £4.9 million (H1 2015: £2.8 million). Included within this charge were restructuring costs of £3.3 million, which related principally to the Operational Improvement Plan, and acquisition costs of £1.6 million (H1 2015: £0.6 million) relating mainly to acquisition integration costs, the non-cash amortisation of acquisition intangibles net of the release of a surplus disposal provision. The cash costs relating to these items totalled £7.8 million (H1 2015: £4.7 million).

Net debt at the end of the period was £70.7 million (2015 year-end: £56.1 million). Net debt to underlying EBITDA at the end of the first half was 1.5 times (2015 year-end: 1.3 times, H1 2015: 0.5 times)."

So not disastrous but heavily window dressed , I'm not tempted to dip back in yet.

[whymps2] 11/8/2016 08:15

Market seems to think they're OK to,

[abarclay] 11/8/2016 07:58

presentational onlybecause aero stanrow in there, take that out add back "the restructuring costs, asset impairments and acquisition related costs" and whatever else they put in there and they are filthy

[whymps2] 11/8/2016 07:54

Results look OK to me.

[rathkum] 18/7/2016 14:45

Citywire + rated Alex Savvides is focusing his blockbuster UK equity fund on 'self-help stories' to cut through the uncertainty and difficulties posed in the post-Brexit referendum world.

In an update, Savvides said he is focusing his £334.6 million JOHCM UK Dynamic fund on companies able to show turnaround capabilities and with secular strength against the current market backdrop.

Secular strength
On the self-help front, Savvides said companies such as electronics firms TT Electronics and Electrocomponents, as well as banknote manufacturer De La Rue were able to deliver stable or positive earnings and cash flow growth within negative environments.
‘Our focus on self-help stories has been beneficial. Whilst not insulated from the external revenue environment, these companies provide a deep element of internal improvement and balance sheet management. This can help to deliver stable or positive earnings and cash flow growth, even in a more negative environment.’

[my retirement fund] 17/7/2016 20:20

Very quiet here. I remember when the dividend was a safe 10p per share many many moons ago. I wondered if anyone had any views on business in the lower world of sterling back drop and of course the future given brexit?

[rathkum] 17/5/2016 10:15

Chairman adds 50,000 shares @134p

[a0148009] 10/3/2016 09:28

IMO not surprised look at the long term chart since the late 90's share price has oscillated at a lower level and is considerably lower now - no such thing as a classic staircase chart pattern of a growth stock. I think one of the problems is struggling to keep up with technology in a fast moving world and constantly moving to low cost manufacturing countries.
OK for trading if you get your timing right.

AO

[gbb483] 10/3/2016 09:10

But with a yield of 3.5% they are better than a kick in the teeth in these turbulent times.

[rathkum] 10/3/2016 07:49

Based on the results the shares are overpriced even factoring the potential of recovery in the current year

[simon templar qc] 10/3/2016 07:39

PUG explain?

[pugugly] 10/3/2016 07:29

Results out - Apart from cash conversion they reveal why most have abandoned this thread - (imo).

[bummel45] 28/1/2016 00:42

Has everyone abandoned this board? Surely someone must have something to say; after all, the company does seem to be moving in the right direction now.

[gbb483] 26/11/2015 22:45

The clerk sneezed when drawing the graph.

[rathkum] 26/11/2015 13:09

What's cooking to merit the rise today.

[bugle4] 20/11/2015 12:54

TT Electronics plc’s Buy Rating Reiterated at Canaccord Genuity (TTG)
November 20th, 2015 - 0 comments - Filed Under - by Mindy Fischer
Share on StockTwits


TT Electronics plc logoCanaccord Genuity reiterated their buy rating on shares of TT Electronics plc (LON:TTG) in a research note released on Tuesday, AnalystRatings.NET reports. They currently have a GBX 165 ($2.51) price objective on the stock.

[bugle4] 18/11/2015 10:38

How Analysts Feel About TT Electronics plc (LON:TTG)?
November 18, 2015 by Sally Goff in Ratings ·

Out of 3 analysts covering TT Electronics PLC (LON:TTG), 2 rate it “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. TT Electronics PLC was the topic in 8 analyst reports since August 20, 2015 according to StockzIntelligence Inc. Below is a list of TT Electronics plc (LON:TTG) latest ratings and price target changes.

17/11/2015 Broker: Numis Securities Rating: Buy Old Target: GBX 170.00 New Target: GBX 170.00 Upgrade
17/11/2015 Broker: Canaccord Genuity Rating: Buy Old Target: GBX 165.00 New Target: GBX 165.00 Maintain
20/10/2015 Broker: Canaccord Genuity Rating: Buy New Target: GBX 165.00 Maintain
16/10/2015 Broker: Liberum Capital Rating: Hold Old Target: GBX 135.00 New Target: GBX 135.00 Maintain
14/10/2015 Broker: Liberum Capital Rating: Hold New Target: GBX 135.00 Initiates Starts
06/10/2015 Broker: Canaccord Genuity Rating: Buy Maintain
20/08/2015 Broker: Canaccord Genuity Rating: Buy Old Target: GBX 150.00 New Target: GBX 150.00 Maintain
20/08/2015 Broker: Numis Securities Rating: Add New Target: GBX 170.00 Maintain

The stock closed at GBX 135.25 during the last session. It is down 5.87% since April 21, 2015 and is uptrending. It has outperformed by 8.41% the S&P500.

[bugle4] 17/11/2015 11:47

TT Electronics plc Lifted to “Buy” at Numis Securities Ltd (TTG)
November 17th, 2015 - 0 comments - Filed Under - by Doug Madison
Share on StockTwits


TT Electronics plc logoTT Electronics plc (LON:TTG) was upgraded by investment analysts at Numis Securities Ltd to a “buy” rating in a research report issued to clients and investors on Tuesday, AnalystRatings.Net reports. The firm currently has a GBX 170 ($2.59) target price on the stock. Numis Securities Ltd’s target price suggests a potential upside of 31.27% from the company’s current price.

[bugle4] 21/10/2015 15:56

TT Electronics plc (LON:TTG)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a report issued on Tuesday, Market Beat.com reports. They currently have a GBX 165 ($2.55) target price on the stock. Canaccord Genuity’s price objective suggests a potential upside of 26.44% from the company’s current price.



Also...

Liberum Capital started coverage on shares of TT Electronics plc (LON:TTG) in a research note published on Wednesday, ARN reports. The brokerage issued a hold rating and a GBX 135 ($2.08) price objective on the stock.

[ed 123] 12/10/2015 22:51

re-balancing

I could write something less encouraging. ;-/

[v11slr] 12/10/2015 22:04

Scroders sold 50000 of their 7.9m. I reckon that's just re-balancing.