LONDON (Alliance News) - Fastenings company Trifast PLC on Wednesday said it expects to beat its expectations for the year on the back of a strong order pipeline and continued margin improvements.
The company said it expects to beat its expectations for the financial year to March 31 as it expects the trend of contract wins from new and existing customers to continue through the final months of its financial year.
The group said it expects the trend to improve further as it works on converting its preferred supplier status outside European manufacturing companies to sister plants in Asia and the US.
It added its operating margin performance is continuing to improve on the back of operational efficiencies within the business.
Shares in Trifast were up 4.1% to 112.375 pence on Wednesday morning, one of the best performers in the FTSE All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Trifast (TRI)