RNS Number : 9752R
Trifast PLC
18 September 2014
 

 

 

Thursday, 18 September 2014

 

Trifast plc

("Trifast" "TR" or the "Group")

Trading Update

 

The Board of Trifast issues the following Trading Update ahead of its Annual General Meeting which is being held today (18 September 2014) at 12noon.

 

Group trading remains encouraging and in line with management expectations as the TR business units benefit from existing and new opportunities arising across our key sectors particularly, automotive, electronics/telecoms and domestic appliances.

 

In the first five months of the current financial year, we have seen promising underlying organic revenue growth, despite the strengthening of Sterling.  Moreover, the Board is pleased to note the ongoing improvement in the Group's operating margins which is driving TR''s underlying organic profitability, especially within our European and Asian operations that exceeds any foreign exchange impact.  

 

VIC, our Italian acquisition completed on 30 May 2014 is integrating well into TR and its performance is meeting our expectations.  VIC marks the latest step in our expansion strategy while also broadening our position within the domestic appliance and Tier 1 automotive sectors.  It also brings new customers, technical engineering skills, cross selling opportunities and gives TR greater penetration into our expanding network of Multinational customers.

 

The Board remains confident in its objective to deliver another strong performance this year and beyond.

 

The Half-yearly results announcement is scheduled for release on Tuesday, 11 November 2014 and we look forward to updating shareholders at this time.

 

ENQUIRIES:

 

Trifast plc

Malcolm Diamond MBE, Executive Chairman

Jim Barker, Chief Executive Mark Belton, Group Finance Director & Company Secretary

Telephone: 44 (0) 1825 747366

 

 

 

Group website: www.trifast.com

Email: corporate enquiries@trifast.com

LSE Listing: Ticker: TRI

FTSE index sector: FTSE Small Cap

 and FTSE All-share indices        



Peel Hunt LLP

Justin Jones

Mike Bell

Telephone: 44 (0)20 7418 8900

TooleyStreet Communications

IR, corporate & media relations

Fiona Tooley

Mobile: 44 (0) 7785 703523

fiona@tooleystreet.com


Trifast's trading business TR Fastenings is a leading international manufacturer and distributor of industrial fastenings to the assembly industries, with operations in Europe, the Americas and Asia.

For more information, please visit www.trfastenings.com: LinkedIn: www.linkedin.com/company/tr-fastenings:

Facebook: www.facebook.com/trfastenings: Twitter: www.twitter.com/trfastenings

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTFDLLFZKFLBBX