21 May 2024 - AGM update
The specialist engineering group which is focused on the automotive sector has issued a trading update covering the four months to 30 April and this has confirmed that trading conditions remain challenging. Revenues for the period were £1.7bn, down 1.9% on the previous year, due to weakness in the ePowertrain business which more than offset gains in Driveline and the China joint venture. Industry forecasts are for a better performance in the second half of the year although some uncertainty must remain. The group believes that revenue for the year will be slightly . . .
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