Focus on automotive and electronics comes up trumps for Trifast
BIRMINGHAM-based fasteners manufacturer Trifast says it is continuing to trade strongly across major international markets.
In an interim management statement issued this morning covering the period from April 1 to date, the firm said it is encouraged by the major new business opportunities that its TR sales teams are both creating and uncovering in particular in Asia and the US within the key target sectors of automotive and electronics.
“As we stated back in June, having spent the previous two years improving TR’s operational processes to enhance margins, we now have the capacity to focus once again on top line growth,” Trifast said.
“More recently, sales engineers have been recruited and inducted to help drive our ‘roll-out’ into the many individual assembly sites of the multinationals that have already nominated TR as a ‘preferred supplier.’
“Our investment into a broad new range of plastic fasteners at the beginning of 2013 is proving to be progressively valuable in supporting our organic growth aspirations. Similarly, a recovery in sales of our TR branded products to distributors in the UK and mainland Europe is perhaps signalling that macro-economic recovery is slowly being manifested.”
Trifast said it remains effective in its cash collection with minimal bad debts, and foreign exchange, although unpredictable, “has to date presented less headwind than anticipated in this financial period”.