CT Automotive positive trading, efficiency initiatives delivering margin improvement

CT Automotive (LON:CTA), a leading designer, developer and supplier of interior components to the global automotive industry, today announced its results for the half year ended 30 June 2023 (“H1 2023”).

Simon Phillips, Chief Executive Officer of CT Automotive, commented:

“We are pleased with our first half performance. We drove strong revenue growth, returned to profitability and strengthened our balance sheet. Production volumes at the Group’s facilities have recovered rapidly and we are making good progress with our margin enhancement initiatives.

CT Automotive is well-positioned to capitalise on the continued recovery in global automotive end-markets and our improved operating environment. Whilst cognisant of the macroeconomic uncertainty, the Board remains confident of meeting full year expectations.”

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