CT Automotive soars as CEO says group on upward trajectory

CT Automotive

16/06/2023 13:18

** Shares of automotive designer CT Automotive Group  CTA.L 
jump as much as 33.1% to near 2-month high of 46.6p
    ** If gains hold, stock set to post record intra-day pct
gain      
    ** CEO says group navigated through a turbulent year and is
now on an upward trajectory, with new awards and customer wins
    ** Says global chip shortage is subsiding with majority of
the suppliers reporting surplus in 2023
    ** Adds manufacturing facilities recovered from specific
operational challenges experienced in Q4 2022
    ** As of last close, stock down 63% YTD

 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))