TI Fluid Systems (TIFS)


FTSE 250

  • Change Today:
  • 52 Week High: 273.00
  • 52 Week Low: 155.20
  • Currency: UK Pounds
  • Shares Issued: 520.27m
  • Volume: 208,944
  • Market Cap: £1,227.84m

TI Fluid Systems' revenues slip as North American operations falter

By Iain Gilbert

Date: Wednesday 15 May 2019

LONDON (ShareCast) - (Sharecast News) - British manufacturer TI Fluid Systems saw group revenues fall back in the first quarter of its trading year, mainly due to the underperformance of its North American operations.
TI Fluid turned in group revenues of €849.8m in the first quarter, despite a soft light vehicle production environment, which declined 6.7%.

On a constant currency basis, revenues decreased 4.8% year-on-year and by 2.2% on an as reported basis.

In Europe and Africa, sales slipped 2.1% at constant currency and, in its Asia Pacific unit, revenues decreased slightly, by 1.9% at constant currency.

Most importantly, in North America, revenues decreased by 11.6% at constant currency or 9.1% below light vehicle production volume in that region, primarily due to lower launch activity.

Despite the revenue decline, the FTSE 250 resident kept its 2019 outlook unchanged.

Analysts at Peel Hunt praised TI fluid for its continued outperformance, saying the group had produced a "solid first performance" against a tough market backdrop.

Peel Hunt also reiterated its 'buy' rating and 380p target price for TI Fluid.

As of 1000 BST, TI Fluid shares dipped 1.52% to 195p.

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TIFS Market Data

Currency UK Pounds
Share Price 236.00p
Change Today 2.50p
% Change 1.07 %
52 Week High 273.00
52 Week Low 155.20
Volume 208,944
Shares Issued 520.27m
Market Cap £1,227.84m

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