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Trifast Plc Trading Update and Notice of Half Year Results - September 2017

LONDON: MONDAY, 25 SEPTEMBER 2017: The Board of Trifast issues the following unaudited trading update ahead of the Group’s Half-year results for the six months ended 30 September 2017 and which are scheduled to be announced on Tuesday 14 November 2017

Trading 

As we reported at our AGM in July, following the all-time record year for the Group, the dynamics of our business continue to match management expectations regarding our KPIs of revenue, overheads and margins across all our business teams in the UK, mainland Europe and Asia.  
 
The positive benefits of our extensive capital investment programme are now tangibly revealing themselves.  For example, TR VIC in Italy has just installed its £1 million new heat treatment plant, along with additional production plant for more complex value-add components supported by new automated inspection and packing machines.  This substantial expansion allows us to access further the growth market sectors within Europe. 
 
We continue to identify and evaluate appropriate target acquisitions, including two international fastener related businesses this year; however, as a result of conducting our own due diligence through many site visits and negotiations, we ultimately withdrew from both due to their lack of strategic future proofing. 
 
The negative impact of currency fluctuations on input costs continues to be broadly balanced by the benefits of translational effects, as 70% of our trading is overseas.  Clearly, this equation is monitored daily by colleagues in sales, procurement and finance, and to date has not adversely distorted our budgets. 
 
Currently, it is becoming almost routine to acknowledge the prevailing global financial and political uncertainties that we now all work with; however, we still believe that the prosperity of Trifast remains firmly the responsibility of our management and staff who remain optimistic about our ability to deliver the results that our stakeholders expect. 
 
Our visibility and order pipeline remains very encouraging, whilst our balance sheet is strong.  Accordingly, the Board is confident that the Group will deliver its expectations for the year ending 31 March 2018. 
 
We look forward to updating our shareholders further on our performance at the time of our results in November. 

Enquiries


Trifast plc 

Malcolm Diamond MBE, 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 or Mike Bell 
Tel: +44 (0)20 7418 8900 

TooleyStreet Communications 

IR & media relations 
Fiona Tooley 
Tel : +44 (0)7785 703523 
 
Published 25.09.17

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