11/13/2012 12:11:00 PM
NEWS BRIEFS
Trifast Group Finds Success in Exports
UK-based Trifast Group reported revenue grew 10.5% to £61.25 million in the first six months of financial 2013, boosted by the acquisition of Power Steel and Electro-Plating Works of Malaysia in December 2011. Trifast profit soared 52% to £3.60 million.
Exports represented more than 60% of the group’s sales, with revenue from Asia soaring 42.9% against the first half. TR Europe / TR USA saw revenue growth of 5.1% and 6.6% against H1 & H2 2012 respectively.
TR Asia’s existing businesses reported a 42.9% rise in first half revenue to £22.6 million, including 8.6% organic growth. Segment profit jumped 38%.
TR Europe/TR USA revenue increased 6.6% to £12.9 million, while TR UK revenue dropped to £29.1 mililon as a result of a general reduction from UK and EU distributors.
“Europe/USA has seen its profit in the first six months exceed the total profit this segment achieved in FY 2012, due to the increased revenue witnessed in the period as well as the closure of selected sites in our US operation last financial year improving its operational efficiency,” the group stated.
Basic earnings per share increased 28.8% to 2.28p.
“We remain mindful of the continuing macro uncertainties particularly in the Eurozone,” the group stated. “However, the current levels of business dynamics lead management to remain confident in the prospects of the business for both this financial year and the next.”
Related Stories:
• Price Gains Drive Grainger Growth in October
Related Links:
• Trifast
Share: