Tricorn Group PLC Trading Update (3354K)
10 April 2018 - 4:00PM
UK Regulatory
TIDMTCN
RNS Number : 3354K
Tricorn Group PLC
10 April 2018
10 April 2018
Tricorn Group Plc
("Tricorn" or the "Group")
Trading Update
Tricorn Group plc (AIM: TCN.L), the AIM listed tube manipulation
specialist, provides the following pre-close trading update for the
financial year ended 31 March 2018 (the "Year").
Revenue for the Year is expected to be around 20 per cent. ahead
of the previous year with the Group benefitting from buoyant end
markets and the impact of new business wins.
Excellent progress has been made across both of the Group's
divisions with all businesses delivering increased revenue and
substantial improvements in profitability over the previous year.
The performances of the Group's USA business and its joint venture
in China have been particularly encouraging.
The Group's results in the final quarter of the financial year
were better than anticipated, therefore the Board now expects
adjusted PBT* for the Year to be ahead of market expectations.
Tricorn will provide a further update on current trading and
prospects at the time of the release of its audited full year
results, which is expected to be on 6 June 2018.
*All references to PBT are before restructuring costs,
intangible asset amortisation, share based charges, foreign
exchange derivative valuation.
For further information please contact:
Tricorn Group plc
Mike Welburn, Chief Executive Tel +44 (0)1684 569956
Phil Lee, Group Finance www.tricorn.uk.com
Director
Stockdale Securities Limited
Tom Griffiths Tel + 44 (0)20 7601 6100
Henry Willcocks
Notes to Editors:
Tricorn is a value added manufacturer and specialist manipulator
of pipe and tubing assemblies to niche markets worldwide in the
Energy and Transportation sectors.
Headquartered in Malvern, UK, Tricorn employs around 300
employees, has 4 manufacturing facilities in China, USA and UK. It
operates through four brands: Franklin Tubular Products, Malvern
Tubular Components, Maxpower Automotive and Minguang-Tricorn
Tubular Products.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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