UK's CT Automotive Group gains on FY profit swing

CT Automotive

20/05/2024 08:51

** Britain's CT Automotive  CTA.L  shares surge 14.3% to 64
pence     
    ** Automotive designer swings to a $8.3 million underlying
profit before tax for FY from a loss of $14.5 million last year,
due to cost-saving programmes and return to pre-pandemic freight
costs
    ** Adds ongoing cost programmes expected to further benefit
profitability in the current year
    ** Co reports FY revenue of $143 million, compared with
$124.3 million in the prior corresponding period  
    ** Up to last close, stock down about 20% 

    
  

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))