Traffic Technologies Ltd (AU:TTI) has released an update.
Traffic Technologies Ltd, a leading Australian provider of traffic solutions, announced a 39% revenue decrease to $26.5 million in the first nine months of 2024, impacted by supply chain issues, government project delays, and capital constraints. Despite these challenges, the company reports a promising outlook with a strong order book and term contracts, plus a new cost reduction program to improve its financial position. The firm continues to secure significant contracts, including supplying infrastructure for China and the Gold Coast Light Rail in Queensland, indicating a potential rebound fueled by increasing government infrastructure spending.
For further insights into AU:TTI stock, check out TipRanks’ Stock Analysis page.
