Trifast sees ‘buoyant trading’ to year end
ENGINEERING group Trifast said today it continued to enjoy “buoyant trading” and a record sales month ahead of the year close.
In a trading update, the fastener manufacturer, which operates a major warehouse base in Wednesbury, reported a record last month in the financial year since structural changes were implemented in 2009.
“The board is pleased to announce that group profit before tax, pre-exceptionals, is expected to be ahead of current market expectations,” it said in a statement.
“Year-end net debt is higher than at the half year stage and in line with expectations.
“This is largely as a function of the required increase in levels of stock to service the new and existing business that came on stream during the year.
“The coming financial year is one during which we are intent on continuing to put good business practices into all aspects of Trifast.
“This will include well earned wage rises for staff and an on-going focus on maximising margins.
“Particular attention will be given to the pricing of both new and existing contracts and more efficient sourcing.”
Preliminary results for the full year ended March 31, 2011, are due to be published in June.
Click here for more manufacturing stories
