Trifast Share News (TRI)

Mechanical fasteners maker Trifast said overall, trading has been solid and encouraging with organic revenue in the third quarter slightly ahead of the same period a year earlier.The Birmingham based group said profitability is on track to meet market expectations to March 31st 2013 and it is optimistic of further growth. Trifast, whose financial position has been boosted by the acquisition of Malaysian rival PSEP in November last year, said its integration is going well.The group, which generates around 60% of its sales from outside the UK, said TR Asia, the group's best performer, could benefit from further streamlining and realignment of responsibilities within the operational team."TR could deliver additional cost initiatives and 'self-help' objectives set as part of the new three-year strategy plan unveiled last year," it explained.Otherwise Trifast said it remains optimistic for 2013 and beyond with regard to the group's structure and further improving organic profitability. "Ccombined with new business expansion opportunities, the management feel fully confident in their ability to deliver a satisfactory result at the year end."CJ