Business
Trading Update & Notice of Half-Year Results
Trading Update & Notice of Half-Year Results.
About this update from Trifast Plc
[{"type":"text","content":"\n \nRNS Number : 6405R Trifast PLC 25 September 2017 \n\n \nTrifast plc\n('Trifast', the 'Group' 'TR' or 'Company')\n \nLeading international specialists in the engineering, manufacturing and distribution \nof high quality, industrial fastenings to major global assembly industries\n \n\"HOLDING THE WORLD TOGETHER\"\n \nTRADING UPDATE \nAND \nNOTICE OF HALF-YEAR RESULTS\n \n \nLONDON: MONDAY, 25 SEPTEMBER 2017: The Board of Trifast issues the following unaudited trading update ahead of the Group's Half-year results for the six months ended 30 September 2017 and which are scheduled to be announced on Tuesday 14 November 2017.\n \nTrading\nAs we reported at our AGM in July, following the all-time record year for the Group, the dynamics of our business continue to match management expectations regarding our KPIs of revenue, overheads and margins across all our business teams in the UK, mainland Europe and Asia. \n \nThe positive benefits of our extensive capital investment programme are now tangibly revealing themselves. For example, TR VIC in Italy has just installed its £1 million new heat treatment plant, along with additional production plant for more complex value-add components supported by new automated inspection and packing machines. This substantial expansion allows us to access further the growth market sectors within Europe.\n \nWe continue to identify and evaluate appropriate target acquisitions, including two international fastener related businesses this year; however, as a result of conducting our own due diligence through many site visits and negotiations, we ultimately withdrew from both due to their lack of strategic future proofing.\n \nThe negative impact of currency fluctuations on input costs continues to be broadly balanced by the benefits of translational effects, as 70% of our trading is overseas. Clearly, this equation is monitored daily by colleagues in sales, procurement and finance, and to date has not adversely distorted our budgets.\n \nCurrently, it is becoming almost routine to acknowledge the prevailing global financial and political uncertainties that we now all work with; however, we still believe that the prosperity of Trifast remains firmly the responsibility of our management and staff who remain optimistic about o...