Trading update - April 2012
The Board of Trifast issues the following update ahead of the publication of the Group’s Preliminary Results for the year ended 31 March 2012, which will be announced on Tuesday 19 June 2012.
The Group has made solid progress in the financial year and as a Board we are comfortable with consensus market forecasts.
Trifast is pleased to report that the integration of Power Steel and Electro-Plating Works Sdn. Bhd. (“PSEP”) which the Group acquired at the end of last year is also progressing very well and, over the coming year we expect to see further utilisation of its capacity and capabilities. Since ownership, trading at PSEP has been in line with the Board’s expectations.
The Group’s business objective remains committed to margin enhancement whilst continuing to focus on maximising growth opportunities through both its transactional and global sales strategy. Despite the uncertainty in the world markets, the Directors are encouraged by the overall progress the enlarged business is making and the opportunities that are presenting themselves.
As a business, we remain confident about our future and the Board look forward to updating shareholders in more detail in June.