Tricorn buoyant on back of sales surge

MALVERN-based engineering firm Tricorn Group is experiencing a healthy hike in sales and says all divisions are experiencing strong demand.

In a pre-close trading update for the financial year to March 31, the AIM-listed tube manipulation company says group sales are expected to be approximately 13% ahead of the previous year.
 
Tricorn, which also has an operation in West Bromwich, says that while all of its divisions have made good progress, the performance of the aerospace division has been particularly encouraging and will see the business return to profitability for the full year.
 
With the positive momentum being maintained during the final quarter, full year group profits before tax are expected to be around £1.6m, being approximately  50% up on the previous year, and slightly ahead of the recently upgraded market expectations following the company’s trading update announced on February 28.

Given this strong performance, the Tricorn board will be recommending the payment of a final dividend. Further details on this and current trading will be given with its full year preliminary results which are scheduled to be released on June 11.