Trifast PLC Trading Update and Notice of Results (5714V)
19 April 2016 - 4:01PM
UK Regulatory
TIDMTRI
RNS Number : 5714V
Trifast PLC
19 April 2016
Tuesday, 19 April 2016
Trifast plc
(Trifast or, the Group or Company)
Trading Update and Notice of Annual Results
Trifast (LSE Premium Listing: Ticker: TRI), leading
international specialists in the engineering, manufacturing and
distribution of high quality industrial fastenings to major global
assembly industries, issues the following unaudited Trading update
ahead of the Group's Annual Financial Results, which will be
announced on Tuesday, 14 June 2016.
Trading update
The Company is pleased to report a strong finish to the year,
benefitting from the ongoing focus on driving operational
efficiencies, continued organic growth and a positive contribution
from acquisitions. Accordingly, the Board expects the results for
the year ended 31 March 2016 to be towards the upper end of market
expectations.
The key points are:
Ø Despite some slowness in the UK, the Group's markets in Asia
and mainland Europe have remained strong
Ø The order pipeline is very encouraging especially within
automotive and the other key sectors we serve. Sales enquiries
remain brisk through our TR portal and this underpins our
operational teams' confidence in the continuing growth of the
business
Ø Our offering on an international scale remains an attractive
USP to many OEMs and, as a result, we have successfully extended
our relationship with a number of our multi-national OEM customers
by serving more plants and widening the product ranges we currently
supply
Ø Following the Group's major investment programme in automation
in Asia, Europe and the UK last year, we are pleased to report that
we are now seeing an improvement in UK productivity, whilst our
operations in Italy, Malaysia and Taiwan have also benefitted from
this programme and giving them the opportunity to further extend
sales and marketing initiatives on a domestic and global basis
Ø Kuhlmann, our German business acquired in October 2015 has
performed well and slightly ahead of management expectations. VIC
in Italy once again has had a solid year and contributed strongly
(on a constant currency basis) to our performance. We are
encouraged by the many opportunities they have in their respective
domestic and export markets
Ø The succession in CEO leadership in October was executed
seamlessly and the new team structure has settled in well. We
firmly believe that the operational teams and their leaders have
the extensive experience and skills set to maintain and deliver our
key strategic drivers while at the same time, further refining
operational processes, data systems and personal accountability at
senior management level
Ø The foundations of our long term strategy for business
expansion stays firmly on track. As a Board, we have reviewed a
number of bolt-on acquisitions although to date we have not
identified any that fully meet our strict criteria. We do however
continue the search for suitable opportunities and also to broaden
our reach and geographies to complement the Group's existing
global, product and sector footprint.
Overall, we are making good progress with our business plan and
we remain optimistic about the Group's future growth prospects. The
Directors look forward to discussing further at the time of the
preliminary results in June.
Enquiries please contact:
Trifast plc
Malcolm Diamond MBE,
Executive Chairman
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
Justin Jones
Mike Bell
Tel: +44 (0)20 7418
8900
TooleyStreet Communications
IR & media relations
Fiona Tooley
Tel: +44 (0)7785 703523
Email: fiona@tooleystreet.com
Group website: www.trifast.com
For more information, please visit www.trfastenings.com:
LinkedIn: www.linkedin.com/company/tr-fastenings:
Facebook: www.facebook.com/trfastenings: Twitter:
www.twitter.com/trfastenings
This information is provided by RNS
The company news service from the London Stock Exchange
END
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