TI Fluid Systems Plc reports 15.6% decline in revenue for Q1 2020

TI Fluid Systems Plc (LLON: TIFS) has released its trading update for Q1 2020 and final dividend for 2019.

  • The Group achieved revenue of €717.3 million in the first quarter) as compared €849.8 million for the 3 months ended March 2019, down by 15.6 per cent.
  • By Segment, Fluid Carrying Systems segment revenue declined by 17.1 per cent to €396.8 million, as compared to €478.6 million in 2019.
  • Fuel Tank and Delivery Systems revenue declined by 13.7 per cent to €320.5 million as compared to €371.2 million.
  • The board of the company supported the payment of the 2019 final dividend as previously announced.
  • On 11th May 2020, at the time of writing, GMT 08:07 AM, TIFS shares were trading at GBX 171.00, up by 0.40 points or0.23% against the previous day closing price.

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