Trifast PLC Trading Update (9338E)

TIDMTRI

RNS Number : 9338E

Trifast PLC

15 February 2018

Trifast plc

('Trifast', the 'Group' 'TR' or 'Company')

"HOLDING THE WORLD TOGETHER"

Leading international specialists in the engineering, manufacturing and distribution

of high quality, industrial fastenings to major global assembly industries

TRADING UPDATE

LONDON: THURSDAY 15 FEBRUARY 2018: The Board of Trifast provides the following unaudited trading update covering the Q3 financial period and up to the date of this announcement.

Organic performance

Our global visibility and order pipeline is still very encouraging. The Group balance sheet remains strong and provides capacity to fund our growth. The global dynamics of our business continue to match management expectations in relation to our revenue, margins and other KPIs across all our business teams in the UK, Europe and Asia. It is pleasing to report that our US operation continues to recover following the impact of Hurricane Harvey.

The consistent levels of progress over recent years, coupled with our future growth and significant investment plans future proof the business and ensure TR can meet the demands of its multinational OEM customers therein turn, building long term shareholder value.

The capital investments we have made in our manufacturing operations in Italy and Taiwan are already delivering ongoing benefits. The significant expansion of our Singapore facilities is on track with phase one expected to complete by the financial year end. To support our ongoing advancement and to meet the evolving needs of our multinational OEM customers, the project to develop and integrate our existing IT infrastructure initiated in 2017 continues. Additional investments have already been made into our global enquiry system. We expect to finalise the scoping of the wider project by the time we report our full year results in mid-June.

Acquisitions

As ever we are evaluating several interesting acquisition opportunities which would further enhance our vendor sourcing, technical portfolio and engineering skills; expand our global footprint; or add value to our sector specialisms.

Summary

There are, of course, some macroeconomic factors we cannot fully mitigate including the wider potential implications of Brexit on our business and the UK economy. However, as we have said previously, the Trifast Group has the flexibility and foresight to continue to grow while facing any challenges head on as and when they arise.

Accordingly, the Board remain confident that the Group will deliver its expectations for the year ending 31 March 2018 when it reports in mid-June 2018.

The next trading update will be in mid-April.

 
Enquiries please contact: 
 Trifast plc 
 Malcolm Diamond MBE, Non-Executive Chairman 
 Mark Belton, Chief Executive Officer 
 Clare Foster, Chief Financial Officer 
 Tel: +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 
 
 
EDITOR'S NOTE 
TRIFAST PLC LSE Premium Listing: Ticker: TRI 
 LEI REFERENCE: 213800WFIVE6RWK3CR22 
About us: 
 Trifast is a leading international specialist in 
 the engineering, manufacturing and distribution 
 of high quality industrial fastenings to major 
 global assembly industries. We are a 24/7 'full 
 service provider' offering 'end-to-end' support 
 to all our customers. Our success and ongoing growth 
 is based on a unique mix of high quality manufacturing, 
 sourcing know-how and adaptable, reliable global 
 logistics. Key sectors are automotive, domestic 
 appliances, electronics and distributors. The Group 
 employs c.1,200 staff across 28 global locations 
 across the UK, Europe, Asia and the USA. 
  For more information, please visit 
   Group website: www.trifast.com 
   Twitter: http://twitter.com/trfastenings 
   Facebook: http://www.facebook.com/trfastenings 
   LinkedIn: http://www.linkedin.com/company/tr-fastenings 
   Pinterest: http://www.pinterest.com/trfastenings/ 
   YouTube: http://www.youtube.com/channel/UC7CDCQpYcDRzlH75RTfXC7g 
   Google+: http://plus.google.com/u/0/b/115387649852001283090/+trfastenings/posts/p/pub 
Registered trademarks are shown in italic 
 
 
                     The information contained within this announcement 
                 is deemed by the Company to constitute inside information 
                     stipulated under the Market Abuse Regulation (EU) 
                  No. 596/2014. Upon the publication of this announcement 
                    via the Regulatory Information Service, this inside 
                     information is now considered to be in the public 
                                          domain.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 15, 2018 02:00 ET (07:00 GMT)

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