Business
Trading Update and Notice of Annual Results
Trading Update and Notice of Annual Results.
About this update from Trifast Plc
[{"type":"text","content":"\n \nRNS Number : 5561W Trifast PLC 18 April 2019 \n\n \nTrifast plc \n(Trifast, Group or TR)\n\"Holding the world together\"\n \n \n\"Despite the more challenging macro-economic environment, following another six months of solid growth and record profit, the Board remains optimistic for the future.\"\n \nTrading Update and Notice of Annual Results \n \nLondon, Thursday, 18 April 2019: Trifast plc (Main market LSE Symbol: TRI) issues the following unaudited Trading Update covering the Group's financial year ended 31 March 2019 ahead of the announcement of its preliminary financial results.\nHighlights\n· Revenue growth recorded across all regions\n· A solid finish to the year, leaves Group underlying profit slightly ahead of management expectations \n· PTS acquired in 2018, has integrated well with strong year-on-year growth\n· Recent contract wins and a solid pipeline across the business bodes well for the future\n· Globally, the automotive sector continues to present Trifast with significant opportunities for organic growth as we continue to gain market share outside of the UK\n· Project Atlas, our Group-wide investment programme to build the Trifast of tomorrow continues to progress well\n· TR receives another industry award recognising innovation & productivity\n· New £80m Group banking facilities provide significant additional headroom to support our organic and M&A investment driven growth strategy\n \n \nGROUP TRADING \nEurope has been a key driver for organic growth; with double-digit revenue increases across five of our seven entities including Holland, Hungary and Germany. As previously reported, reduced domestic appliance volumes, as the result of more normalised trading conditions in our Italian operations, have offset some of these increases. However, we are also very proud to report that ahead of budget, our newest greenfield site TR Espana, successfully secured its first £1m of annual sales in the year. \n \nIn Asia, year-on-year growth has been solid across the region with strong domestic appliance sector increas...