Tricorn tubes on a roll

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.

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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%.

BS