Business
Half-year Report - six months to 30 September 2023
Half-year Report - six months to 30 September 2023.
About this update from Trifast Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \nTuesday, 21 November 2023\n\n \nTRIFAST PLC\n(Trifast, Group or Company)\n \nLeading international specialist in the design, engineering, manufacture, and distribution\nof high-quality industrial fastenings and Category 'C' components principally to major global assembly industries\n \n \nHALF-YEARLY FINANCIAL REPORT\nUnaudited results for the six months ended 30 September 2023\n \n\"Self-help actions help us remain on-track to deliver full-year results\"\nIain Percival, Chief Executive Officer\n \n\n\n\n\nKey financials\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nUnderlying measures\n\n\nCER2\nHY2024\n\n\nCER2\nchange\n\n\nAER2\nHY2024 \n\n\nAER2\nchange\n\n\nAER HY2023\n\n\nAER HY2022\n\n\n\n\nRevenue\n\n\n£119.1m\n\n\n(1.0)%\n\n\n£117.6m\n\n\n(2.2)%\n\n\n£120.2m\n\n\n£103.8m\n\n\n\n\nGross profit %\n\n\n25.9%\n\n\n130bps\n\n\n25.7%\n\n\n110bps\n\n\n24.6%\n\n\n26.3%\n\n\n\n\nUnderlying operating profit (UOP)1\n\n\n£6.9m\n\n\n11.0%\n\n\n£6.6m\n\n\n6.6%\n\n\n£6.2m\n\n\n£7.4m\n\n\n\n\nUnderlying operating profit %1\n\n\n5.8%\n\n\n60bps\n\n\n5.6%\n\n\n40bps\n\n\n5.2%\n\n\n7.2%\n\n\n\n\nUnderlying profit before tax1\n\n\n£4.1m\n\n\n(24.2)%\n\n\n£3.9m\n\n\n(29.3)%\n\n\n£5.5m\n\n\n£7.0m\n\n\n\n\nUnderlying diluted earnings per share1\n\n\n \n\n\n \n\n\n2.18p\n\n\n(34.5)%\n\n\n3.33p\n\n\n4.42p\n\n\n\n\nAdjusted net debt3\n\n\n \n\n\n \n\n\n£27.8m\n\n\n£(12.6)m\n\n\n£40.4m\n\n\n£5.1m\n\n\n\n\nReturn on capital employed (ROCE)1\n\n\n \n\n\n \n\n\n5.6%\n\n\n(110)bps\n\n\n6.7%\n\n\n8.8%\n\n\n\n\nInterim dividend\n\n\n \n\n\n \n\n\n0.60p\n\n\n(20.0)%\n\n\n0.75p\n\n\n0.70p\n\n\n\n\nGAAP measures\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n \n\n\n \n\n\n£4.7m\n\n\n26.4%\n\n\n£3.7m\n\n\n£5.7m\n\n\n\n\nOp...