Revenues jump at Trifast

Mechanical fasteners maker Trifast has delivered a 10.5 per cent jump in half year revenue, with growth coming from the acquisition of Power Steel and Electro-Plating Work.

Mechanical fasteners maker Trifast has delivered a 10.5 per cent jump in half year revenue, with growth coming from the acquisition of Power Steel and Electro-Plating Work.

The mechanical fasteners maker firm saw revenues climb from £55.44m to £61.25m in the six months ended September 30th, contributing to underlying pre-tax profit of £3.39m, up from £2.13m the same period the previous year. Basic earnings per share totalled 2.28p, compared to 1.77p the same period in 2011 and 1.68p the previous half.

The group's underlying EBITDA (earnings before interest tax, depreciation and amortisation) increased to £4.60m (HY 2012: £3.06m) and represents 7.5% of group revenue.

The cost of sales increased from £41.2m to £45.4m, leading to gross profit of £15.9m, up from £14.3m the prior year.

More than 60% of the group's sales now come from outside the UK, with revenue from Asia soaring 42.9% against the first half. TR Europe / TR USA saw revenue growth of 5.1% and 6.6% against H1 & H2 2012 respectively.

The company said that the automotive contracts for new models are providing increasing revenue pipeline into 2013 and beyond.

In a statement the group said: "We remain mindful of the continuing macro uncertainties particularly in the Eurozone; however, the current levels of business dynamics lead management to remain confident in the prospects of the business for both this financial year and the next."

The share price rose 0.89% to 42.50p by 14:22.

NR

Recommended

Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022
Britain’s most-bought shares w/e 5 August
Stocks and shares

Britain’s most-bought shares w/e 5 August

A look at Britain’s most-bought shares as of 5 August, providing an insight into how investors are thinking and where opportunities may lie.
9 Aug 2022

Most Popular

Are UK house prices finally heading for a crash?
House prices

Are UK house prices finally heading for a crash?

The latest house price figures show a fall of 0.1% in July. With interest rates rising, inflation hitting double figures and a recession on the cards,…
5 Aug 2022
Brace yourself for the return of rationing
Economy

Brace yourself for the return of rationing

Russia is turning off the cheap energy. That is already leading to belt-tightening, says Matthew Lynn. Who will suffer most, and which sectors will th…
5 Aug 2022
Fear of missing out – what should investors do now?
Investment strategy

Fear of missing out – what should investors do now?

Markets have rallied from their mid-June lows. But if you missed out, as most investors did, what should you do now? Max King explains.
8 Aug 2022