30th Jan 2014 11:09
LONDON (Alliance News) - Trifast PLC Thursday said its divisions in Asia, Europe and the US are trading strongly as a result of its own ongoing "self-help" focus, the recently well publicised automotive dynamics in the UK, US and China, and improving macroeconomic sentiment.
In an interim management station for the period October 1 2013 to January 30 2014, the company, which makes mechanical fasteners, said its balance sheet remains strong, cash collection continues to be effective and group gearing is "modest."
"As our customers and markets continue to make strides in technological advancements, we too look to add further value to [our] offering through enhanced engineering design and technical capability matched by complementary products that meet the requirements, demands and aspirations of our global customers," Trifast said.
The firm said beyond its organic growth initiatives, one of its objectives is still to become a strategic consolidator, as such the group is looking to make suitable acquisitions and expand its global footprint.
The stock was trading at 82.00 pence Thursday morning, up 2.00 pence or 2.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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