UK-based Trifast reported that the company “finished strongly” in 2016, Fastener + Fixing Magazine reports.
“Trading performance across the business delivers another record breaking financial year and results ahead of board expectations.”
Trifast said all divisions outperformed expectations, reflecting “compelling underlying organic growth from key sectors,” according to Fastener + Fixing.
Asia continued its return to growth, building on the profitable return achieved in the first half of the year. The UK experienced good growth from both OEM and distributor export businesses. U.S. operations produced double-digit growth, albeit from a small base. And mainland Europe “performed well” and delivered year-on-year growth.
Capital spending totaled £3 million (US$3.6 million) to provide additional capacity in Asia and Europe. More than 70% of revenue was generated outside the UK in 2016.
Final results for the fiscal year, ended March 31, 2017, will be released on June 13. Web: trifast.com
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