8/24/2010 12:36:00 AM
NEWS BRIEFS
Trifast Eyes Demand in Asia and U.S.

UK-based Trifast released its annual report, highlighting the gains the firm over the past year. 
 

“Every one of our 21 TR global business units made a profit during the last month of the financial year ended March 2010, with total sales revenue for the last month of the year being the highest for 18 months, stated Executive Chairman Malcolm Diamond.
 

Revenue totaled GBP 85.94 million (US$133.6 million) for fiscal 2010, down 18% from the GBP 104.9 million reported the previous year. Gross profit reached GBP 21 million, down 21% from 2009’s total of GBP 26.6 million.
 

Trifast said it’s focusing on its “rebuild strategy”: meeting Asia-centric demand for assembly components while pursuing greater market share in the U.S., where the company has a “minor” footprint at present.
 

Key operational targets for year 2010/11 are vendor development, internal warehousing, logistics and freight, transactional sales within the UK and Europe as well as HR management.
 

“I am confident that TR remains on target with its three-phase strategy and our stated objective, to return the business back to stronger levels of profitability through lean logistics, targeted sales and marketing with on-going margin improvement,” Diamond stated.  ©2010 GlobalFastenerNews.com

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