CT Automotive Group Plc (GB:CTA) has released an update.
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CT Automotive Group PLC reports a robust first half of 2024 with a 59% increase in adjusted profit before tax to $4.1 million and a gross margin improvement of 250 basis points to 28.7%. The automotive supplier attributes the strong performance to cost reductions and securing five key contracts expected to add $27.5 million annually to revenues through 2027. The Group’s focus on margin improvements and cost efficiencies, alongside wins in EV and other vehicle contracts, positions it well for continued growth and market share gains.
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