Tricorn, the AIM quoted tube manipulation specialist, has lifted its sales and profits guidance for the financial year just ended on the back of a strong performance from its aerospace division, which has moved back into the black.
Group sales for the year to March 31st, 2012, are expected to be approximately 13% ahead of the previous year with all divisions experiencing strong demand through the final quarter. That would imply revenue of £25.59m, marginally ahead of market expectations of £23.57m.
With momentum being maintained during the final quarter, full year profits before tax are expected to be around £1.6m, approximately 50% up on the previous year, and slightly ahead of market expectations of £1.54m following the company's February trading update.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Profit margins are ahead of the preceding year at both the group and divisional level, reflecting the continuing improvement in operational performance.
The company says it will definitely pay a final dividend, although the exact amount will be revealed along with the full results on 11 June. The market has pencilled in a figure of 0.2p for the full year dividend, double what the company paid the year before.
At 10:38 the stock had gained 4.55%. Over the past 12 months the Tricorn shares have seen growth of a whopping 91.7%.
Trading terms: The Santa Rally
Glossary Will the Santa Rally result in its traditional December effect on global markets?
By Dr Matthew Partridge Published
Lock in high yields on savings, before they disappear
As interest rates peak, time to lock in high yields on your savings, while they are still available.
By Ruth Jackson-Kirby Published