Tricorn predicts profits ahead of expectations

WORCESTERSHIRE-based tube and piping manufacturer Tricorn Group said demand had stayed strong in the final quarter of its financial year with operating margins across its three divisions expected to be ahead of first half performance.

As a result, the Malvern group expects full year pre-tax profit to be ahead of market expectations.

In a trading update ahead of year-end performance, the AIM-listed tube manipulation specialist said: “The group has made an encouraging start to the final quarter with demand remaining strong and operational performance continuing to improve. Operating margins in all three of the group’s divisions are anticipated to be ahead of first half performance.

“As a result the company expects that full year group PBT will be ahead of market expectations.”

Tricorn is a manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy & Utilities, Transportation and Aerospace sectors. It employs around 300 people and operates through four brands: MTC; Redman Fittings; Maxpower and RMDG Aerospace.