Tricorn sees 20% hike in sales

Tricorn, a maker of pipes for the power industry and aircraft engines, expects first half sales to be over 20% higher than in the previous year as strong global demand continues.The upbeat outlook also reflects progress made with its major blue chip OEM customers, it said."It is those customers' extensive geographic reach that ensures the group has the benefit of significant exposure to worldwide markets with approximately two-thirds of Tricorn's product ultimately destined for overseas use," Tricorn said in an update.Whilst the Transportation and Energy Divisions remain the principal drivers for the sales growth referred to above, all Divisions have increased sales in the six months to 30 September 2011 compared to both the first and second half of last year, it added.Operating profit margins continue to improve with the focus on the Aerospace Division yielding the most significant progression. Pre-tax profit for the half year is expected to be ahead of the previous six months, in its fourth consecutive period of profit growth.Full year pre-tax profit is expected to be in line with market expectations. ---cj