Trifast plc - 2019 Preliminary Results
(‘Trifast’, the ‘Group’ ‘TR’ or ‘Company’)
CEO Mark Belton speaking to BRR Media.
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Preliminary results for the year ended 31 March 2019
London: Tuesday, 11 June 2019 Trifast (LSE Premium listing: TRI), leading international specialists in the design, engineering, manufacturing and distribution of high quality industrial fastenings to major global assembly industries announces preliminary results for the year ended 31 March 2019:“THE GROWTH STORY SET TO CONTINUE….”
Key Financials
Continuing operations |
Year ended 31 March 2019 at CER |
Year ended 31 March 2019 at AER |
Year ended 31 March 2018 |
Change CER† |
Change AER^ |
|
| Total Group revenue | £209.1m | £209.0m | £197.6m | +5.8% | +5.7% | |
| Gross profit % | 30.0% | 30.0% | 30.5% | -50bps | -50bps | |
| Underlying operating profit* | £24.2m | £24.2m | £22.7m | 6.7% | 6.5% | |
| Operating profit | £17.1m | £17.1m | £19.0m | -9.7% | -9.9% | |
| Underlying profit before tax* | £23.6m | £23.5m | £22.2m | 5.9% | 5.8% | |
| Profit before tax | £16.5m | £16.4m | £18.5m | -11.1% | -11.3% | |
| Underlying diluted earnings per share* | 14.55p | 14.53p | 13.78p | 5.6% | 5.4% | |
| Diluted earnings per share | 9.92p | 9.90p | 12.20p | -18.7% | -18.9% | |
|
Dividend:
- final proposed
- interim
- total for the year
|
3.05p
1.20p
4.25p
|
2.75p
1.10p
3.85p
|
10.9%
9.1%
10.4%
|
|||
| Net debt | £14.2m | £7.4m | £6.8m | |||
| Return on capital employed (ROCE)* | 18.8% | 20.1% | -130bps | |||
*Before seperately disclosed items (see note 2)
†Constant exchange rate (CER)
^Actual exchange rate (AER)
†Constant exchange rate (CER)
^Actual exchange rate (AER)
- Total revenue increase of 5.8% at Constant Exchange Rate (CER), 5.7% at Actual Exchange Rate (AER)
- Global market share wins drive strong automotive sales growth of 6.4%
- Gross margins remain on target at 30.0% and underlying operating margins up to an historic high of 11.6%
- Underlying profit before tax increased 5.9% at CER, 5.8% at AER
- Total dividend of 4.25p, an increase of 10.4% on the prior year
- PTS, acquired in April 2018, integrating well with double-digit year-on-year revenue growth
- Expanded distribution facilities in USA support regional revenue growth of 38.3% at CER, 39.9% at AER
- Project Atlas, our Group-wide investment programme to build the Trifast of tomorrow, continues to progress well
- New £80m Group banking facilities provide c. £38m of headroom to support our organic and M&A investment driven growth strategy
Click here to download the full results
Enquiries
Trifast plc
Malcolm Diamond MBE, Non-Executive Chairman
Mark Belton, Chief Executive Officer
Clare Foster, Chief Financial Officer
Office: +44 (0) 1825 747630
Email: corporate.enquiries@trifast.com
Mark Belton, Chief Executive Officer
Clare Foster, Chief Financial Officer
Office: +44 (0) 1825 747630
Email: corporate.enquiries@trifast.com
Peel Hunt LLP
Stockbroker & financial adviser
Mike Bell
Tel: +44 (0) 20 7418 8900
Mike Bell
Tel: +44 (0) 20 7418 8900
TooleyStreet Communications
Published 11.06.19
For further information on Trifast plc please visit our investors website: www.trifast.com