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CT Automotive Group Plc ( (GB:CTA) ) has issued an update.
CT Automotive Group Plc reported a highly resilient performance for 2024, achieving revenues of no less than $117 million and adjusted profits before tax of no less than $8.6 million, despite challenges in the automotive industry. The company secured significant new contracts worth approximately $12 million annually, with production starting in Mexico, and is well-positioned to leverage market conditions favoring cost-efficient solutions, aiming for mid-single digit revenue growth in 2025. The group’s focus on automation, digitalization, and a low-cost model amid global industry pressures provides a strategic advantage, allowing it to support OEMs in reducing costs and enhancing competitiveness.
More about CT Automotive Group Plc
CT Automotive Group Plc is a UK-headquartered company engaged in the design, development, and manufacture of bespoke automotive interior finishes and kinematic assemblies for leading automotive original equipment suppliers and global Tier One manufacturers. The company operates a low-cost manufacturing footprint with key production facilities in China, Mexico, Türkiye, and Czechia. CT Automotive pursues a price leadership strategy, supplying high-quality parts at a lower overall landed cost, catering to a range of products for PHEV and BEV platforms, including electric car manufacturers.
YTD Price Performance: -25.00%
Average Trading Volume: 51,223
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £22.08M
For detailed information about CTA stock, go to TipRanks’ Stock Analysis page.
