TT Electronics looks to strong second half

Electronic components supplier TT Electronics has swung to a first-half profit, resumed interim dividend payments and said trading for the full year was ahead of expectations.

TT, which supplies components to manufacturers in the defence, aerospace, medical and automotive markets, said it would pay an interim dividend of 0.8p a share.

"The outlook for the second half of the year is positive although some uncertainty remains, particularly around macro economic conditions," chief executive Geraint Anderson said.

Adjusted pre-tax profit for the six months to June 30 was £9.3 million compared with a loss of £3.8 million a year ago.

Revenue from continuing operations rose 23% to £280.7 million a year ago.