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Trifast plc - Trading Update - February 2015
The Board of Trifast plc (Symbol: TRI), the international fastenings group, provides the following trading update for the financial year to date.
“The Group is developing a strong forward order pipeline reflecting solid growth from both new and existing customers across its key sectors of global automotive, domestic appliances and electronics/telecoms infrastructure (4G). Global OEM customers are by far the largest contributor to revenue. This trend is expected to improve further over the short to medium term as we focus on converting the opportunities to extend our ‘preferred supplier’ partnership status outside the traditional European OEM plants into numerous sister plants in Asia and the USA. Margin improvement continues to be driven by ongoing operational process efficiencies.
“As previously stated, Trifast continues to investigate and pursue potential acquisitions that would be complementary to the Group’s business and meet its strategic objectives. This has been recently exemplified by the successful integration of VIC, acquired in May 2014, and the cross-selling opportunities that are now emerging.
“Overall, despite the macro economic trends and exchange rate effects, the Board remains very encouraged by progress to date and the opportunities ahead, all of which are expected to contribute in delivering encouraging underlying organic growth which will be ahead of its current expectations.”
The Group intends to issue a pre-close statement and give notice of its 2015 annual results in mid April.
Malcolm Diamond MBE, Executive Chairman | Jim Barker, Chief Executive | Mark Belton, Group Finance Director
Telephone: +44 (0) 1825 747366
LSE Listing: Ticker: TRI
FTSE index sector: FTSE Small Cap and FTSE All-share indices
Peel Hunt LLP
Justin Jones | Mike Bell | Jock Maxwell Macdonald
Telephone: +44 (0) 20 7418 8900
TooleyStreet Communications IR, corporate & media relations
Mobile: +44 (0) 7785 703523
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 further information on Trifast plc please visit our investors website: www.trifast.com