TR Branded Product Group

Trifast Plc Half-yearly financial report for the six months ended 30 September 2012

 
 
% change Sept 2012 v Sept 2011
H1 30 September 2012
H1 30 September 2011
H2 31 March 2012
Full year 31 March 2012
Continuing operations
 
 
 
 
 
Revenue
+10.5%
£61.25m
£55.44m
£57.07m
£112.51m
Gross profit
+11.6%
£15.90m
£14.25m
£14.58m
£28.83
Underlying EBITDA *
+50.3%
£4.60m
£3.06m
£3.48m
£6.54m
EBITDA
+54.2%
£4.55m
£2.95m
£3.63m
£6.58m
Underlying pre-tax profit*
+51.9%
£3.60m
£2.37m
£2.63m
£5.00m
Pre-tax profit
+59.2%
£3.39m
£2.13m
£2.63m
£4.76m
Basic earnings per share
+28.8%
2.28p
1.77p
1.68p
3.45p
Adjusted diluted earnings per share
+25.0%
2.30p
1.84p
1.92p
3.76p
*Before IFRS2 charge, acquisition expenses, and restructuring credit/(costs)
 

Highlights


Underlying pre-tax profit up 52% at £3.60 million on corresponding period last year following the acquisition of PSEP
 

TR regions:

  • UK profit growth with margins improving
  • Europe steady growth continues
  • USA now profitable with ambitious plans for 2013
  • Asia (excl PSEP) achieved growth following Thai Floods and Japanese Tsunami
  •  PSEP integrating well and major contributor to Group’s 10.5% revenue growth
  • Overall, TR Asia showed an impressive 42.9% revenue growth against the corresponding period last year
  • Over 60% of Group sales now from outside UK
  • Automotive contracts for new models providing increasing revenue pipeline into 2013 and beyond
  • International ‘Supplier of the Year’ Awards from two key global multinational customers -creating new opportunities in the USA
  • Growth sustained with a reduced overhead percentage and headcount compared to FY March 2012
“When we reported back in June this year, we termed our business outlook as “A World of Opportunity”, and happily, nothing has occurred since then to dull our optimism in overall Group performance going forward.
 
“We remain mindful of the continuing macro uncertainties particularly in the Eurozone; however, the current levels of business dynamics lead management to remain confident in the prospects of the business for both this financial year and the next.”

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