Trifast plc - Trading Update - 18th September 2014
The Board of Trifast issues the following Trading Update ahead of its Annual General Meeting which is being held (18 September 2014) at 12noon.
Group trading remains encouraging and in line with management expectations as the TR business units benefit from existing and new opportunities arising across our key sectors particularly, automotive, electronics/telecoms and domestic appliances.
In the first five months of the current financial year, we have seen promising underlying organic revenue growth, despite the strengthening of Sterling. Moreover, the Board is pleased to note the ongoing improvement in the Group’s operating margins which is driving TR’’s underlying organic profitability, especially within our European and Asian operations that exceeds any foreign exchange impact.
VIC, our Italian acquisition completed on 30 May 2014 is integrating well into TR and its performance is meeting our expectations. VIC marks the latest step in our expansion strategy while also broadening our position within the domestic appliance and Tier 1 automotive sectors. It also brings new customers, technical engineering skills, cross selling opportunities and gives TR greater penetration into our expanding network of Multinational customers.
The Board remains confident in its objective to deliver another strong performance this year and beyond.
The Half-yearly results announcement is scheduled for release on Tuesday, 11 November 2014 and we look forward to updating shareholders at this time.
- Trifast Trading In Line With Expectations, Mitigating Sterling Hit - London South East - Thurs 18 Sept
- FinnCap Reaffirms “Buy” Rating for Trifast plc (TRI) - Mideast Times - Thurs 18 Sept
For further information on Trifast plc please visit our investors website: www.trifast.com