TIDMTRI
RNS Number : 6405R
Trifast PLC
25 September 2017
Trifast plc
('Trifast', the 'Group' 'TR' or 'Company')
Leading international specialists in the engineering,
manufacturing and distribution
of high quality, industrial fastenings to major global assembly
industries
"HOLDING THE WORLD TOGETHER"
TRADING UPDATE
AND
NOTICE OF HALF-YEAR RESULTS
LONDON: MONDAY, 25 SEPTEMBER 2017: The Board of Trifast issues
the following unaudited trading update ahead of the Group's
Half-year results for the six months ended 30 September 2017 and
which are scheduled to be announced on Tuesday 14 November
2017.
Trading
As we reported at our AGM in July, following the all-time record
year for the Group, the dynamics of our business continue to match
management expectations regarding our KPIs of revenue, overheads
and margins across all our business teams in the UK, mainland
Europe and Asia.
The positive benefits of our extensive capital investment
programme are now tangibly revealing themselves. For example, TR
VIC in Italy has just installed its GBP1 million new heat treatment
plant, along with additional production plant for more complex
value-add components supported by new automated inspection and
packing machines. This substantial expansion allows us to access
further the growth market sectors within Europe.
We continue to identify and evaluate appropriate target
acquisitions, including two international fastener related
businesses this year; however, as a result of conducting our own
due diligence through many site visits and negotiations, we
ultimately withdrew from both due to their lack of strategic future
proofing.
The negative impact of currency fluctuations on input costs
continues to be broadly balanced by the benefits of translational
effects, as 70% of our trading is overseas. Clearly, this equation
is monitored daily by colleagues in sales, procurement and finance,
and to date has not adversely distorted our budgets.
Currently, it is becoming almost routine to acknowledge the
prevailing global financial and political uncertainties that we now
all work with; however, we still believe that the prosperity of
Trifast remains firmly the responsibility of our management and
staff who remain optimistic about our ability to deliver the
results that our stakeholders expect.
Our visibility and order pipeline remains very encouraging,
whilst our balance sheet is strong. Accordingly, the Board is
confident that the Group will deliver its expectations for the year
ending 31 March 2018.
We look forward to updating our shareholders further on our
performance at the time of our results in November.
Enquiries please contact:
Trifast plc
Malcolm Diamond MBE, Non-Executive Chairman
Mark Belton, Chief Executive Officer
Clare Foster, Chief Financial Officer
Thereafter: +44 (0) 1825 747630
Email: corporate.enquiries@trifast.com
Peel Hunt LLP (Stockbroker & financial adviser)
Justin Jones
Mike Bell
Tel: +44 (0) 20 7418 8900
TooleyStreet Communications (IR & media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523
Email: fiona@tooleystreet.com
EDITOR'S NOTE
TRIFAST PLC
LSE Premium Listing: Ticker: TRI
LEI REFERENCE: 213800WFIVE6RWK3CR22
About us: Trifast is a leading international specialist in the
engineering, manufacturing and distribution of high quality
industrial fastenings to major global assembly industries. We are a
24/7 'full service provider' offering 'end-to-end' support to all
our customers. Our success and ongoing growth is based on a unique
mix of high quality manufacturing, sourcing know-how and adaptable,
reliable global logistics. Key sectors are automotive, domestic
appliances, electronics and distributors. The Group employs c.1,200
staff across 27 global locations across the UK, Europe, Asia and
the USA.
For more information, please visit
Group website: www.trifast.com
LinkedIn: www.linkedin.com/company/tr-fastenings
Twitter: www.twitter.com/trfastenings
Facebook: www.facebook.com/trfastenings
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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