Business
Preliminary Results for the y
Preliminary Results for the y.
About this update from Trifast Plc
[{"type":"text","content":"\n RNS Number : 0111U Trifast PLC 17 June 2009 \n \n\n\nIssued by Citigate Dewe Rogerson Ltd, Birmingham\nDate: Wednesday, 17 June 2009 \nTrifast plc\nPreliminary Results for year ended 31 March 2009\n\n\n\nAppointment of Malcolm Diamond as Executive Chairman and Jim Barker as Chief Executive Officer\n\n\n\n\n\nMain Board bolstered by appointments of Neil Chapman and Jonathan Shearman as Non-Executive Directors\n\n\n\n\n\nAdjusted pre-tax profit of £2.54 million, despite prevailing market conditions*\n\n\n\n\n\nPre-tax loss from continuing operations: (£11 million)\n\n\n\n\n\nContinued cash generation from operations of £5.91 million through reduction of working capital\n\n\n\n\n\nReduction in gross debt of £1.64 million\n\n\n\n\n\nNo payment of final dividend, in view of lack of visibility and in order to preserve cash\n\n\n\n*excluding discontinued operations and takes into account separately disclosed items\n\n\"Like many other businesses, the current unprecedented turmoil of both the global financial and economic conditions has provided additional pressure to the business and our teams, but having spent time with our staff it is very clear that we have people with drive, ambition and expertise who are capable of building on the solid foundation and position we have in the marketplace and also exploiting the opportunities that will present themselves when confidence returns and the economic conditions improve.\n\n\"The 2009 financial numbers provide the base from where we are rebuilding, and as a Board we intend to implement our revised strategy which will see the business improve profitability and increase shareholder value.\"\nMalcolm Diamond, Executive Chairman, and\nJim Barker, Chief Executive Officer, Trifast plc\n\nFULL STATEMENT ATTACHED\n\n\n\n\n\nEnquiries:\n\n\n\n\n\n\n\nTrifast plc\n\n\nCitigate Dewe Rogerson\n\n\n\n\nMalcolm Diamond, Executive Chairman\n\n\nFiona Tooley, Director\n\n\n\n\nJim Barker, Chief Executive\n\n\nKeith Gabriel, Senior Account Manager\n\n\n\n\nToday: +44 (0)207 638 9571\n\n\nToday: +44 (0)207 638 9571\n\n\n\n\nThereafter: +44 (0)1825 747366\n\n\nThereafter: +44(0)121 362 4035\n\n\n\n\nMobile: +44 (0)7979 518493 (MMD)\n\n\nMobile: +44 (0)7785 703523 (FMT)\n\n\n\n\n\n\n\nMobile: +44 (0)7770 788624 (KG)\n\n\n\n\nArden Partners p...