Electronics firm at risk over impact of tariffs

An electronics manufacturer with a Northumberland base has warned that US tariffs could impact its ability to keep operating, as it announced the sudden departure of its boss.

- COREENA FORD

TTE Electronics has bases in Asia, North America and five sites around the UK alongside its Woking headquarters, including a facility in Bedlington with more than 400 employees specialising in R&D and semiconductors.

Latest results show strong performance in Europe and the UK was offset by slumping demand in the US. Overall, it chalked up £521.1m in revenues, down from £613.9m, while the previous year's operating profit of £3m was converted to a loss of £23.5m. The Stock Exchange-listed business, which engineers and manufactures products to support sectors from healthcare to aerospace, posted a pre-tax loss of £33.4m for 2024, and said the import taxes and retaliatory measures had led to an “uncertain and volatile” backdrop.