Trading Update (5357P)
October 05 2011 - 2:00AM
UK Regulatory
TIDMTCN
RNS Number : 5357P
Tricorn Group PLC
05 October 2011
5 October 2011
Tricorn Group Plc
("Tricorn" or the "Group")
Pre Close Trading Update
Tricorn Group plc (AIM:TCN.L), the AIM listed tube manipulation
specialist, announces the following trading update for the six
months ended 30 September 2011 ahead of entering its close
period.
First half sales are expected to be over 20% higher than in the
corresponding period last year, reflecting both the progress with
its major blue chip OEM customers and continued strong global
demand. It is those customers' extensive geographic reach that
ensures the Group has the benefit of significant exposure to
worldwide markets with approximately two-thirds of Tricorn's
product ultimately destined for overseas use.
Whilst the Transportation and Energy Divisions remain the
principal drivers for the sales growth referred to above, all
Divisions have increased sales in the six months to 30 September
2011 compared to both the first and second half of last year.
Operating profit margins for the Group continue to improve with
the focus on the Aerospace Division yielding the most significant
progression. PBT* for the half year is expected to be ahead of the
previous six months representing the fourth consecutive period of
profit growth.
Full year PBT* is expected to be in line with market
expectations.
Tricorn will provide a further update at the time of the release
of its unaudited interim results for the six months ended 30
September 2011, which is expected to be on 5 December 2011.
*The reference to PBT is before intangible asset amortisation,
share based charges and fair value adjustments.
For further information please contact:
Tricorn Group plc
Mike Welburn, Chief Executive
Phil Lee, Group Finance Director +44 (0) 1684 569 956
Arbuthnot Securities Limited
Tom Griffiths
Ed Groome +44 (0) 20 7012 2000
Winningtons
Tom Cooper +44 (0) 797 122 1972
Notes to Editors:
Tricorn Group plc is a value added manufacturer and specialist
manipulator of pipe and tubing assemblies to niche markets
worldwide in the Energy, Transportation, Aerospace & Utilities
sectors.
Headquartered in Malvern, UK, Tricorn employs over 300 employees
and operates through four brands: MTC; Redman Fittings; Maxpower;
and RMDG Aerospace.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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