11/16/2010 9:18:00 AM
NEWS BRIEFS
Trifast Returns to Double-Digit Profit
UK returns to profit, whilst Asia doubled operating profits

UK-based Trifast reported six-month revenue for the first half of fiscal 2010 rose 13% to £52.04 million. By territory, Asia increased by 20%, UK 14% and remainder of its markets remained at last year’s levels.
 

Gross margins at the half-year improved to 25.8%, against 24.4% at March 2010 and 24.6% in the comparable period last year. Trifast operating profit more than tripled to £1.99m.
 

“Global sales continue to grow as we successfully win both new and improved multi-national contracts across our key sectors,” the company stated. “This is particularly the case in automotive where long term contracts are being won at acceptable margins.”

During fiscal 2010 Trifast 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.  ©2010 GlobalFastenerNews.com

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