Market ConditionsTT was one of the earlier companies in the sector to begin calling out a challenging trading backdrop in North America, and this has since become a theme across the sector.
Operational IssuesThe extent of the company-specific operational issues in North America is troubling, and the call did not leave a great degree of confidence that these will be rectified by mid-FY25F, or that there is not more to uncover.
Trading ResultsTT have released a trading update, outlining weak trading results in August due to operational efficiency issues in 2 North American sites.