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Trifast plc half-yearly results for the six months ended 30 September 2010


Key points - financial H1 30 September 2010 H1 30 September 2009 H2 31 March 2010 Full year 31 March 2010
Revenue £52.04m £39.85m £46.09m £85.94m
Gross profit £13.45m £9.81m £11.20m £21.01m
Underlying operating profit¹ £1.99m  £0.06m £1.01m £1.07m
Operating profit/(loss) £1.75m £0.24m (£2.38m) (£2.14m)
Underlying pre-tax profit¹ £1.72m £0.00m £0.92m £0.92m
Pre-tax profit/(loss) £1.48m £0.18m  (£2.99m) (£2.81m)
Net Debt £5.63m £5.57m £4.68m £4.68m

Underlying profit is calculated before intangible amortisation, IFRS 2 charges, restructuring costs and sale of associate.

  • UK returns to profit, whilst Asia doubled operating profits to £2.09m
  • Major investment programme in Asia to support growth in the region
  • 'Automotive Centre of Excellence' to be established in Europe
  • The TR business continues to focus on:
  • further penetration of globally spread multi-national high volume assemblers in electronics and automotive
  • increasing leverage of its low cost Asian manufacturing capabilities, and;
  • growth of TR branded and transactional sales mainly in the UK and EU
"As the Group continues to advance, and despite some caution across certain global economies we are encouraged by year to date trading and the amount of 'self help' that is within reach.  Given the market dynamics visible to us at this stage, the Board would expect profit for the year to 31 March 2011 to be significantly ahead of current expectations."
 

Malcolm Diamond MBE, Executive Chairman


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