Business
Trading update and Notice of half-year results
Trading update and Notice of half-year results.
About this update from Trifast Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7348P\n Trifast PLC\n 21 October 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n Trifast plc \n \n \n (Trifast, Group or TR)\n \n \n \n \n \n \"Our fastenings enable innovation today to build a better tomorrow\"\n \n \n Leading international specialist in the design, engineering, manufacture, and distribution\n \n \n of high-quality industrial fastenings and Category 'C' components principally to major global assembly industries\n \n \n \n \n \n \n \n \n Trading update and Notice of half-year results \n \n \n \n \n \n \n \n \n \n London, Thursday, 21 October 2021\n \n : Trifast plc (LSE Main market premium listing: symbol: TRI) issues the following unaudited Trading update ahead of the Group's half-year results for the six months ended 30 September 2021.\n \n \n \n \n \n Mark Belton, Chief Executive Officer commented:\n \n \n \"There can be no doubt that this is both a very exciting and challenging time to be in business and I would like to thank all our teams for their ongoing support and dedication. The level of demand in the market has never been higher and the opportunities we are seeing both organically and non-organically have never been greater.\"\n \n \n \n \n \n TRADING UPDATE\n \n \n Further to the update given to shareholders at the time of the AGM in July 2021, the Board is pleased to report that overall trading in the subsequent weeks has been in line with expectations at both revenue and profit levels. After a strong rebound in quarter one, we have continued to see solid year-on-year growth into quarter two and expect to report first half revenues c.30% up on 30 September 2020 and ahead of the 2019 pre-COVID comparative period (at CER).\n \n \n \n \n \n We are continuing to experience strong underlying demand in all our key markets, particularly in health & home in Europe and our UK and EU distributor sector. We have also continued to see interesting opportunities develop in the electric vehicle (EV) and energy, tech and infrastructure space. In the light vehicle sector, a strong performance has led to further market share gains, although this has been partially offset by the impact of the widely reported semi-conductor supply side shortages. While localised shutdowns have temporarily impacted trading levels in Malays...