TT electronics Sales To Date Ahead Of Year Earlier >TTG.LN

1st Jul 2010 07:44

LONDON (Dow Jones)--TT electronics PLC (TTG.LN), the global electronics group supplying leading manufacturers in the defense, aerospace, medical, automotive and industrial electronics markets, said Thursday that the improved trading conditions reported in the interim management statement of May 12, have continued, with sales well ahead of the same period last year across all divisions. MAIN FACTS: -The business continues to benefit from the cost reduction measures implemented over the last eighteen months and results for the first six months of the year are anticipated to be in line with the Board's expectations. -On June 30, the Group sold two wholly owned subsidiaries, MMG Magdev Ltd. and MMG India Private Ltd., to Delta Magnets Ltd., an Indian publicly listed group for GBP1.7 million in cash which will used to reduce the Group's borrowings. -Shares closed Wednesday at 96.25 pence valuing the company at GBP149.14 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 01, 2010 02:44 ET (06:44 GMT)