Trifast plc (‘Trifast’, TR, or the ‘Group’) Trading Update and Notice of Annual Results
“Despite the more challenging macro-economic environment, following another six months of solid growth and record profit, the Board remains optimistic for the future.”
London, Thursday, 18 April 2019: Trifast plc (Main market LSE Symbol: TRI) issues the following unaudited Trading Update covering the Group’s financial year ended 31 March 2019 ahead of the announcement of its preliminary financial results.
- Revenue growth recorded across all regions
- A solid finish to the year, leaves Group underlying profit slightly ahead of management expectations
- PTS acquired in 2018, has integrated well with strong year-on-year growth
- Recent contract wins and a solid pipeline across the business bodes well for the future
- Globally, the automotive sector continues to present Trifast with significant opportunities for organic growth as we continue to gain market share outside of the UK
- Project Atlas, our Group-wide investment programme to build the Trifast of tomorrow continues to progress well
- TR receives another industry award recognising innovation & productivity
- New £80m Group banking facilities provide significant additional headroom to support our organic and M&A investment driven growth strategy
Globally, the automotive sector continues to present Trifast with significant opportunities for organic growth through a mix of cross-selling, new technologies as a result of the on-going evolution to electric vehicles and the collaboration of both local and international TR capabilities. Outside of our more established presence in the UK automotive market, we continue to successfully expand our market share largely via new platform build wins and a further penetration into our Multinational Tier 1 automotive customer base. Other key sectors continue to perform in line with our expectations and also remain areas of opportunity for the Group.
Underlying Profit Before Tax
New Banking Facilities
Summary and Outlook
“Trifast is a global business serving a broad and balanced range of sectors and geographies and generating c.70% of revenues and profits outside of the UK. We are a full-service provider to our Multinational customers, delivering reliable product engineering, quality and supply, via flexible global logistics solutions. It is these core skills that continue to allow us to increase market share across a wide customer base and put us in a good position to keep moving forward and delivering on our future aspirations even in a less certain world."
Notice of Annual Results
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
For further information on Trifast plc please visit our investors website: www.trifast.com