0R15 8520.0 0.0% 0R1E 8203.0 0.0% 0M69 21090.0 67.5139% 0R2V 227.04 9923.8411% 0QYR None None% 0QYP 411.37 -3.2071% 0RUK 2652.0 -9.2402% 0RYA 1520.0 -2.8754% 0RIH 174.55 -1.3563% 0RIH 164.85 -5.5571% 0R1O 200.44 9897.0075% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 165.7358 2.7149%
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CT Automotive (LSE: CTA) expects increased profit in H2FY24 supported by improved performance and cost reduction
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Highlights
CT Automotive Group PLC (LSE: CTA) has a market cap of GBP 36.71mn and is listed on the FTSE AIM All-Share index. It focuses on the design, development, and supply of interior components for the global automotive sector.
In H1 FY24, CT Automotive Group reported a revenue of USD 60.50 million, reflecting an 11.3% decrease compared to USD 68.20 million in H1 FY23. This decline was mainly due to a fall in production revenues, which decreased to USD 56.0 million as a result of reduced volumes in the broader automotive market. However, tooling revenues saw a significant boost, nearly doubling to USD 4.5 million. On the profit front, the company's adjusted EBITDA improved by 10.4%, rising to USD 7.40 million from USD 6.70 million in the previous year. This growth was largely driven by higher gross profits from tooling and a reduction in distribution and administrative expenses.
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