Shares in CT Automotive Group PLC (AIM:CTA) climbed 18% in late morning trading on Wednesday after the car interiors group confirmed current trading was in line with expectations and forecast further revenue and margin growth in 2025.
The company reported a 600 basis point improvement in gross margin to 28% in 2024, driven by its ongoing rollout of automation, digitisation and AI technologies.
That gain helped lift adjusted pre-tax profit by 5% to $8.7 million, even as revenues fell 16% to $119.7 million amid a post-pandemic slowdown in automotive production.
Looking ahead, CT Automotive said it expects mid-single-digit revenue growth this year and continued margin expansion, despite ongoing uncertainty linked to tariffs and supply chain pressures.
Trading in the first quarter of 2025 was said to be in line with expectations. The company noted it had already secured $10 million in annualised revenue from new programmes relocated to its Mexico facility, a strategic shift designed to mitigate tariff risk.
The shares were changing hands for 27.7p.