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)
 
  • 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

Peel Hunt LLP

Stockbroker & financial adviser
Mike Bell
Tel: +44 (0) 20 7418 8900

TooleyStreet Communications

IR & media relations
Fiona Tooley
Tel : +44 (0)7785 703523
Email: fiona@tooleystreet.com
 
Published 11.06.19

For further information on Trifast plc please visit our investors website: www.trifast.com