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CT Automotive – “A return to strength driven by sustainable operational efficiencies”. Er, wasn’t it driven by customers “catching up”?

By Steve Moore | Monday 20 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Automotive interior components group CT Automotive (CTA) has announced its results for the 2023 calendar year headlined “A return to strength driven by sustainable operational efficiencies” and emphasising “underlying PBT grew to $8.3m… Significant improvement in net debt to $3.8m (FY22: $12.2m)”. So what of the results announcement and a current share price response up more than 20% to 67.5p?
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