Automotive Products2

Interim Management Statement - 15th August 2013

Trifast publishes its unaudited Interim Management Statement covering the period from 1 April 2013 to the date of this announcement:- 

The Directors are pleased to report that trading in all of the Group’s divisions in Asia, Europe and the USA continue to trade strongly. Looking ahead, we are also encouraged by the major new business opportunities that our TR sales teams are both creating and uncovering in particular in Asia and the USA within our focused key sector of Automotive and within Electronics. 
As we stated back in June, having spent the previous two years improving TR’s operational processes to enhance margins, we now have the capacity to focus once again on top line growth. More recently, Sales engineers have been recruited and inducted to help drive our ‘roll-out’ into the many individual assembly sites of the multinationals that have already nominated TR as a ‘Preferred Supplier’. Our investment into a broad new range of plastic fasteners at the beginning of 2013 is proving to be progressively valuable in supporting our organic growth aspirations. Similarly, a recovery in sales of our TR Branded products to Distributors in the UK and Mainland Europe is perhaps signalling that macro-economic recovery is slowly being manifested. 
The business remains effective in its cash collection with minimal bad debts, and foreign exchange, although unpredictable, has to date presented less headwind than anticipated in this financial period. 
In this year of 2013 we look back and celebrate TR’s ‘40 years of Service Innovation’ - more can be read about this in the online version of the Group’s 2013 Annual Report which is available on our investor website, Meanwhile, we look forward to keeping shareholders updated on our progress throughout the current financial year and also to welcoming shareholders to TR Uckfield, East Sussex on Tuesday, 17 September 2013 for our AGM which is to be held at 12 noon.

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