Half-Yearly Financial Report for the Six Months Ended 30 September 2017

“Another six months of strong growth, with increased trading driving up our underlying PBT”


Key Financials

Continuing operations (Actual Exchange Rate, AER)

Change HY2018 v HY2017

HY2018

HY2017

FY2017

Group revenue +9.0% £97.8m £89.7m £186.5m
Gross profit % -140bps 30.2% 31.6% 31.1%
Underlying operating profit* +8.5% £11.1m £10.3m £21.0m
Operating profit +6.4% £9.3m £8.8m £17.9m
Underlying profit before tax* +9.7% £10.9m £9.9m £20.5m
Profit before tax +7.7% £9.1m £8.5m £17.3m
Underlying diluted earnings per share* +8.1% 6.78p 6.27p 12.82p
Diluted earnings per share +23.1% 6.56p 5.33p 10.40p
Basic earnings per share +22.2% 6.72p 5.50p 10.72p
Interim/total dividend^ +10.0% 1.10p 1.00p 3.50p
Net debt -£6.3m £7.9m £14.2m £6.4m
Return on capital employed (ROCE)* +150bps 20.1% 18.6% 19.9%
* Before seperately disclosed items (see notes 2, 6 and 9)
^ Change is in interim dividend only

Operational Highlights

  • Revenue up by 4.8% at Constant Exchange Rate (CER), 9.0% at AER, all organic growth
  • Underlying diluted earnings per share up by 8.1% at AER
  • Confidence for the future and continued profitable growth in a period of investment, drives an interim dividend increase of 10.0% to 1.10p
  • Ongoing investment for growth in our sales teams and operations around the world
  • Capital investment of £1.3m increases our manufacturing capacity and capability, with more to follow
  • Expanded distribution facilities in Shanghai, with plans in place for Holland and Northern Ireland
  • New TR Innovation and Technical Centre to be set up in Gothenburg, Sweden’s electric vehicle development area
  • TR Fastenings Espana up and running, with a strong pipeline in place

“HY2018 delivered another six months of strong growth, with ongoing investment across all of our regions.
 
Our strong first half results, together with a robust balance sheet, good access to banking facilities and a proven track record of profitable investment, means the Group is in a great position to keep moving forward. The second half has started well and, with a robust pipeline in place, the Board remain confident of delivering its expectations for the current financial year.
 
As an international business with over 70% of our revenue being generated outside of the UK, and a very well-balanced geographical and sector spread, the Board remains confident we have the flexibility and foresight to continue to grow, while facing any challenges head on as and when they arise.”
 

Malcolm Diamond MBE, Non-Executive Chairman


Mark B Video thumb

Trifast - CEO and team discuss half year results and technology

CEO Mark Belton on strategy and performance joined by Chris Black discussing the opportunities in the automotive sector, and Keith Gibb on the advantages of 3D technical engineering to TR and it’s customers.
 

Click here to watch the full interview.


Enquiries

Trifast plc

Malcolm Diamond MBE, Non-Executive Chairman
Mark Belton, Chief Executive Officer
Clare Foster, Chief Financial Officer
Office: +44 (0) 1825 747630

Peel Hunt LLP

Stockbroker & financial adviser
Justin Jones
Mike Bell
Matthew Brooke-Hitching
Telephone: +44 (0)20 7418 8900

TooleyStreet Communications
IR & media relations
Fiona Tooley
Telephone: +44 (0)7785 703523

For futher information on Trifast plc please visit our investors website: www.trifast.com