TT Electronics PLC tumbled over 11% on Tuesday after pushing back its full-year results and highlighting challenges among North American operations.
Though adjusted profit was expected to match expectations, a £35 million non-cash impairment was flagged for 2025, alongside a £6 million results adjustment for last year.
TT Electronics said the goodwill impairment related to a “downturn in components demand and operational execution challenges in North America”.
The adjustment related to its Cleveland site, where an improvement plan was said to be underway but taking longer than anticipated to deliver benefits.
Results would be published two weeks later than scheduled to allow time for an audit, it added, having originally been due on March 4.
Shares dropped 11.9% to 74p on Tuesday.