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
Read full results: Half-Yearly Financial Report for the Six Months Ended 30 September 2017
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
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Fiona Tooley
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Email: fiona@tooleystreet.com