11/16/2011
NEWS BRIEFS
Trifast Reports Strong EU Sales & Growing Asia Revenue
UK-based Trifast Group reported revenue grew 7% to during the first six months of fiscal 2012.
By territory, Europe sales rose 19%. And in Asia: “although on a like for like basis Asia revenue remained flat, we are pleased to report a 10% improvement over its sales performance achieved in the second half of the last financial year to March 2011.”
First-half gross margins of 25.7% — an increase of 1.1 percentage points — affected by the early impact of contract price increases and improved sourcing initiatives.
“We expect to see further improvements over the coming periods, above that required to offset any further pricing pressures,” Trifast added.
Stocks at the end of September 2011 achieved £27.41m — up 18.5% from the first half of fiscal 2010 and 9% above its March peak of £25.12m.
“This increase relates in part to investment in new ranges and capabilities to support our global sales force as well as some unwinding of the summer months.”
Trifast reported revenue rose 23% to £106.09 million in the fiscal year ended March 31, 2011. Underlying EBITDA more than doubled to £5.26m and gross margin improved to 25.2%©2011 GlobalFastenerNews.com
UK-based Trifast Group reported revenue grew 7% to during the first six months of fiscal 2012.
By territory, Europe sales rose 19%. And in Asia: “although on a like for like basis Asia revenue remained flat, we are pleased to report a 10% improvement over its sales performance achieved in the second half of the last financial year to March 2011.”
First-half gross margins of 25.7% — an increase of 1.1 percentage points — affected by the early impact of contract price increases and improved sourcing initiatives.
“We expect to see further improvements over the coming periods, above that required to offset any further pricing pressures,” Trifast added.
Stocks at the end of September 2011 achieved £27.41m — up 18.5% from the first half of fiscal 2010 and 9% above the company’s March peak of £25.12m.
“This increase relates in part to investment in new ranges and capabilities to support our global sales force as well as some unwinding of the summer months.”
Trifast reported revenue rose 23% to £106.09 million in the fiscal year ended March 31, 2011. Underlying EBITDA more than doubled to £5.26m and gross margin improved to 25.2%©2011 GlobalFastenerNews.com
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