Trifast plc - Trading Update and Notice of half-year results
(Trifast, TR, Company or Group)
Leading international specialist in the design, engineering, manufacture, and distribution of high quality industrial and Category 'C' components principally to major global assembly industries
“Our fastenings enable innovation today to build a better tomorrow”
London, Thursday, 21 October 2021: Trifast plc (LSE Main market premium listing: symbol: TRI) issues the following unaudited Trading update ahead of the Group's half-year results for the six months ended 30 September 2021.
Mark Belton, Chief Executive Officer commented:
"There can be no doubt that this is both a very exciting and challenging time to be in business and I would like to thank all our teams for their ongoing support and dedication. The level of demand in the market has never been higher and the opportunities we are seeing both organically and non-organically have never been greater."
Further to the update given to shareholders at the time of the AGM in July 2021, the Board is pleased to report that overall trading in the subsequent weeks has been in line with expectations at both revenue and profit levels. After a strong rebound in quarter one, we have continued to see solid year-on-year growth into quarter two and expect to report first half revenues c.30% up on 30 September 2020 and ahead of the 2019 pre-COVID comparative period (at CER).
Areas of Strategic Focus
Project AtlasFollowing successful implementation at two sites during the half-year, roll out to our biggest trading subsidiary, TR Fastenings Ltd (UK), is already underway. We look forward to updating shareholders in greater detail as part of the half-year report, including a reminder of our previously reported planned timelines and expected returns.
AcquisitionsHaving announced the value accretive acquisition of Falcon in the USA on 1 September 2021, the Board is delighted with its integration into the Group and the search for further acquisitions continues apace.
Notice of Half-Year Results
The Company will hold a virtual presentation of results for financial analysts at 8.45am (BST) on Tuesday, 23 November 2021, details of which can be obtained by contacting either the Company or advisers as detailed below.
Mark Belton, Chief Executive Officer
Clare Foster, Chief Financial Officer
Office: +44 (0) 1825 747630
Peel Hunt LLP
Tel: +44 (0) 20 7418 8900
Tel : +44 (0)7785 703523