Trading Update

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: [phone]	Group website: www.trifast.com Email: corporate [e-mail] LSE Listing: Ticker: TRI FTSE index sector: FTSE Small Cap  and FTSE All-share indices
Peel Hunt LLP Justin Jones Mike Bell Telephone: [phone]	TooleyStreet Communications IR, corporate & media relations Fiona Tooley Mobile: [phone] [e-mail]
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

 

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