TCN.L Share News (TCN)

Tube manipulation specialist Tricorn said it expects full year pre-tax profit to be significantly ahead of market expectations as it considers recommending a maiden dividend.The Worcestershire-based group said full year pre-tax profit is expected to be around £1m after a strong final quarter and improved operating profit margin. Second half sales for the period ended 31 March 2011 are expected to be over 10% higher than the first half and full year sales are expected to be around 40% ahead of the previous year, Tricorn said in a company update.Commenting on trading Tricorn said, "Our Energy and Transportation sectors remain the principal driver for this with both sectors benefitting from strong market recovery and new business wins. We have also been encouraged by the continued growth in demand in the Utilities sector, albeit from a relatively low base."Aerospace sales in the second half will be at very similar levels to those in the first half.The pipe and tubular assemblies manufacturer is also considering recommending the payment of a nominal maiden dividend as part of a longer term progressive dividend policy. CJ