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Interim Results

Trifast hikes H1 pretax profit by c.44%

10 November 2015 09:19

Trifast improved its H1 pretax profit by 43.9% to GBP7.1m, while group revenue rose 5.6% to GBP78.1m. Its interim dividend was up 33.3% to 0.8p a share. It is optimistic about its FY prospects.

Executive chairman Malcolm Diamond commented:

"We are pleased to report a solid first half performance which has delivered an underlying pre-tax profit increase of 24.8% to £8.3m and a 23.2% increase in underlying EPS.

"Our order pipeline across our key locations remains encouragingly healthy. We continue to focus on cost control and supply chain management, particularly from ongoing investment into efficiency drivers. The positive impact this is having on our margins is expected to continue.

"In our quest to add to the momentum of our organic growth, we were very pleased at the start of the second half to establish a strong domestic distribution and logistics facility in Germany through our acquisition of the well-respected Kuhlmann business.

"Overall, taking into account the current business climate we are operating within, the Board remains optimistic about the Group's prospects and continues to expect its trading for the financial year as a whole to be in line with its expectations.

"Organic growth remains only part of our strategy and we will continue to look for our next strategic acquisition to complement the Group's existing global, product and sector footprint."

At 9:19am: (LON:TRI) Trifast PLC share price was +2.5p at 113.5p

Story provided by StockMarketWire.com

Related Company: TRI

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