viewProactive Group

TI Fluid eyes electric vehicle opportunity as currencies put brake on sales

Light vehicle production is key to TI’s performance

TI is adapting to EV growth

TI Fluid Systems PLC (LON:TIFS) shares perked up on hopes for rising orders in the burgeoning electric vehicle market.

Interim profits were 5% higher at £124mln, on flat sales of £1.77bn.

Light vehicle production key to TI's performance​

Foreign exchange movements hampered first-half sales, which rose by 4.5% on a constant currency basis and were again better than the overall light vehicle (cards and vans) market.

Originally a fuel tank specialist, TI is working with two hybrid and electric car makers on contracts worth potentially €700mln.

Light vehicle production is key to TI’s performance. Output overall 1.7% to 48.2mln vehicles in the first half of 2018 with growth everywhere bar North America.

The interim dividend was €3.02.

Shares rose 6% to 266p. TI listed in London at 255p last October.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


GlobeX Data close to finalizing a distribution deal in Canada for its...

GlobeX Data Ltd (CSE:SWIS) (OTCQB:SWISF) CEO Alain Ghiai caught up with Proactive to talk about how the group has reached the “final stages” of signing a distribution deal in Canada for its SekurSafe and Sekur solutions. Ghiai says the Toronto-based tech company's distribution deal is being...

13 hours, 34 minutes ago

2 min read