6/1/2011 12:30:00 AM
NEWS BRIEFS
Trifast Revenue and Margins Grow
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% as Asia markets continued to grow for the UK-based fastener manufacturer.
Trifast said its operations in the UK and US “improved to break-even” for the year.
In the 12-month period the company invested in an automotive center in Holland and increased its sales representation in China, India, the U.S. and UK.
“Trifast has clearly enjoyed the best of the global recovery in customer demand “catch up” for re-stocking, which now allows our strategy to develop market share to come into its own,” stated CEO Malcolm Diamond.
“These plans embrace most of our individual business teams across the Group but with special focus in Asia, the UK and America, and we look forward to reporting our progress as we go through the year.” ©2011 GlobalFastenerNews.com
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