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CT Automotive Group Plc ( (GB:CTA) ) has provided an update.
CT Automotive Group PLC reported a significant improvement in its gross profit margin for the year ended December 31, 2024, despite a 16% decline in revenue due to reduced consumer demand post-COVID. The company achieved a 600 basis points increase in gross margin to 28%, driven by the successful adoption of digitization and automation strategies. Adjusted profits before tax rose by 5% to $8.7 million, highlighting the company’s resilience amid industry challenges. The company remains cautiously optimistic about future opportunities, focusing on operational efficiencies and the rollout of AI and automation to drive further growth. With new contracts and production programs set to commence, CT Automotive is well-positioned to navigate the uncertain market environment and deliver mid-single digit revenue growth in FY25.
More about CT Automotive Group Plc
CT Automotive Group PLC is a leading designer, developer, and supplier of bespoke automotive interior finishes and kinematic assemblies for the global automotive industry. The company serves major automotive original equipment manufacturers (OEMs) and Tier One manufacturers, including brands like Nissan, Ford, GM, Volkswagen Audi Group, Bentley, and Lamborghini. CT Automotive operates with a low-cost manufacturing footprint, with key production facilities in China, Mexico, and Türkiye, and distribution facilities in Europe, Asia, and the US.
Average Trading Volume: 45,689
Technical Sentiment Signal: Sell
Current Market Cap: £17.3M
See more data about CTA stock on TipRanks’ Stock Analysis page.