Business
AGM, IMS & Trading Update
AGM, IMS & Trading Update.
About this update from Trifast Plc
[{"type":"text","content":"\n \nRNS Number : 2062M Trifast PLC 11 August 2011 \n \n\n \nThursday, 11 August 2011\n \nTrifast plc('Trifast' or 'the Company')\nAnnual General Meeting\nInterim Management Statement & Trading Update\n \nAt today's Annual General Meeting, Malcolm Diamond, Executive Chairman, addressed shareholders and all Resolutions were duly passed. Details of the proxy votes will be provided on the Group's website, www.trifast.com or on request from the Company Secretary.\n \nThe Company also issued the following Interim Management Statement which covers the period from 1 April to 30 June 2011 and a Trading Update to the date of this announcement.\n \nThe Board is encouraged by the business performance which has seen revenue growth over the comparable period last year and more importantly a solid increase in profitability. Even with the traditionally quieter weeks of summer and the potential fragility of some economies and industries, we are continuing to witness further business opportunities in our key market sectors.\n \nIn-house manufacturing and strong sector focus underpins Trifast's powerful customer offering both locally and globally. Trifast's business models in both Europe and Asia are now well defined and firmly established. This year, we are looking to consolidate and then grow our customer support and logistics resource in the USA by initiating the restructure of our business teams to separate OEM sales and distribution into a new warehouse in Houston, and our Branded Products team into a new warehouse just outside Boston.\n \nLooking forward; as we highlighted in both our 2011 published Report & Accounts and presentations in June, our focus in this new financial year will be on:-\n· Selective contract price increases\n· Improved sourcing\n· Growth within Branded Products and TR Direct (transactional sales)\n· Increased sales focus on our USA and China operations\n \nAs a Board, we are delighted to report that there has already been progress in all these areas which has had a positive impact not only on our teams around the globe but also on some of our key financial KPI objectives.\n \nContinued focus on working capital management to suppor...