Tricorn Group PLC - pipe manufacturer based in Malvern, Worcestershire - Says trading has been "extremely challenging" over the last 9 months. But while outlook still remains uncertain, demand levels from number of customers increasing and providing additional availability in the UK from the group's invoice discounting facility. Of total invoice discounting facility of GBP3.0 million, as at November 13, the group generated funding availability of approximately GBP1.8 million (advanced at 90%) and has been fully drawn. Balance sheet exposure risk estimated at approximately GBP3.6 million has been identified. Cash balances as at November 13 were approximately GBP0.7million.
Current stock price: 5.90 pence
Year-to-date change: down 39%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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