Record results for Tricorn
MALVERN-based engineering firm Tricorn Group has delivered a record set of results with revenue up 14% and operating profit margin up 31%.
Announcing its preliminary results for the year ended March 31, the firm, a specialist manufacturer of pipe and tubing assemblies saw sales revenue increase to £24.7m (2011: £21.7m) and profit before tax increase to £1.62m (2011: £1.06m). Its operating profit margin increased from 5.5% to 7.2% over the 12 month period.
Nick Paul CBE, chairman of Tricorn, said: “In light of this performance and our continued confidence in the future prospects for the business we are pleased to recommend a proposed doubling of our full year dividend to 0.2p.”
Tricorn serves niche markets worldwide in the energy & utilities, transportation, and aerospace sectors.
It has facilities in the UK and China and employs more than 300 employees. It operates through four brands: MTC, Redman Fittings, Maxpower and RMDG Aerospace.
