Trifast PLC Trading Update and Notice of HY Results (5675L)
October 04 2016 - 1:00AM
UK Regulatory
TIDMTRI
RNS Number : 5675L
Trifast PLC
04 October 2016
Tuesday, 4 October 2016
Trifast plc
('Trifast', the 'Group')
Trading update and Notice of Results
The Board of Trifast issue the following unaudited trading
update ahead of the Group's Half-year results for the six months
ended 30 September, which are scheduled to be announced on Tuesday,
8 November 2016:
Trading
As we reported at our AGM on 27 July 2016, 'TR's business
remains solidly on track in terms of our organic growth performance
and capital investment objectives, despite widespread general
economic concerns arising mainly from Brexit'.
Three months on since the EU Referendum, we are pleased to
report that the positive trend dynamics for TR have been
reassuringly sustained resulting in our business units across the
Group experiencing continued good organic growth on a constant
currency basis. Consequently, this trend is enabling us to boost
our ongoing global investment objectives covering the specific
areas of people, skills training, production and automated quality
inspection equipment.
At the end of this half-year period, we have also settled the
deferred consideration payment of EUR1.7m due to the owners of
Kuhlmann Befestigungselemente GmbH & Co. KG Germany
("Kuhlmann") which we acquired on 1 October 2015. Meanwhile, we
maintain our constant search for suitable, well managed 'bolt-on'
profitable acquisitions that, like our most recent acquisitions
immediately add value to our global strategy. While our strict
target criteria continues to limit choice, it considerably
mitigates risk.
Today, in excess of half of Group revenue is derived from
outside the UK, therefore our reported financial results are
clearly impacted by the effects of foreign exchange movements.
During the first half of the current financial year we have
benefitted from a tailwind from the weakness of Sterling.
Finally, to meet the geographic presence required to satisfy key
customer demand we are pleased to announce that this month we have
expanded our European presence, opening a greenfield distribution
and technical centre in Barcelona, Spain. This operation's initial
focus is on the burgeoning Tier 1 automotive, a sector that
continues to be an important growth driver for TR.
We remain confident in our future prospects as we continue to
execute our strategy and look forward to updating shareholders
further on our performance in November.
Enquiries please contact: Editors' note: Trifast
Trifast plc plc LSE Premium Listing:
Malcolm Diamond MBE, Executive Ticker: TRI
Chairman
Mark Belton, Chief Executive About us: Trifast, leading
Officer international specialists
Clare Foster, Chief Financial in the engineering, manufacturing
Officer and distribution of high
Office: +44 (0) 1825 747630 quality industrial fastenings
email: corporate.enquiries@trifast.com to major global assembly
industries.
Key sectors are automotive,
domestic appliances, electronics
and distributors. The
Group employs over 1,100
staff across 27 global
locations across the UK,
Europe, Asia and the USA.
For more information,
please visit
Group website: www.trifast.com
LinkedIn: www.linkedin.com/company/tr-fastenings
Twitter: www.twitter.com/trfastenings
Facebook: www.facebook.com/trfastenings
--------------------------------------------------
Peel Hunt LLP (Stockbroker
& financial adviser)
Justin Jones or Mike Bell
Tel: +44 (0)20 7418 8900
--------------------------------------------------
TooleyStreet Communications
(IR & media relations)
Fiona Tooley
Tel: +44 (0)7785 703523
email: fiona@tooleystreet.com
---------------------------------------- --------------------------------------------------
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
TSTMJBRTMBTMBPF
(END) Dow Jones Newswires
October 04, 2016 02:00 ET (06:00 GMT)