5th May 2022 20:07
Trifast PLC - Uckfield, England-based industrial fastenings firm - Says strong trading continued in fourth quarter ended March 31, contributing to full-year organic revenue growth of 15% at constant currencies. "As a result, the group expects to report an overall trading performance for FY2022, in line with the board's expectations," company says.
Says it recorded gross margins "much closer" to historic levels in March 2022, though inflationary pressures constrain a full margin recovery. "We expect price increase negotiations to be an ongoing part of doing business in the current macroeconomic environment. With this in mind, we are already reaching out to our customer base to discuss a prompt pass-on of relevant additional costs, including increased energy and broader macro costs," it says.
While noting headwinds, the firm says it is looking ahead with confidence amid strong momentum in contract wins and new order pipeline.
Current stock price: 98.00 pence, down 8.4% on Thursday
12-month change: down 36%
By Lucy Heming; [email protected]
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