19th Apr 2016 07:51
LONDON (Alliance News) - Industrial fastenings supplier Trifast PLC on Tuesday said it saw a strong end to the financial year to the end of March and anticipates its results will hit the upper end of market expectations.
Trifast said it saw some slowness in the UK market over the year, but its Asian and European trading has remained strong. Trifast said it has improved efficiency in its UK operations following a big investment made in its business in the year, while the Kuhlmann business it bought in October has performed well.
The firm said its order pipeline looks "very encouraging", particularly in the automotive sector, while sales enquiries remain "brisk".
Trifast said it continues to look for bolt-on acquisitions but has yet to identify any suitable targets.
The company will publish results for the financial year to March 31 on June 14.
Trifast shares were up 1.1% to 137.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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