4 Oct 2010 07:00
4th October 2010
Tricorn Group Plc
("Tricorn" or the "Group")
Pre-Close Trading Update
Tricorn Group plc (AIM:TCN.L), the AIM listed tube manipulation specialist, announces the following pre-close trading update following the end of its half year to 30 September 2010.
Sales have strengthened throughout the first half and are expected to be approximately 40 per cent. higher than the corresponding period last year. The principal driver for this is the continued recovery in the Energy and Transportation sectors. Sales in Aerospace and Utilities have remained broadly in line with the second half of last year.
Operating profit margins have also continued to improve with strong performances in Energy and Transportation more than offsetting the lower margins in our Aerospace business.
As a result, full year Group PBT* is expected to be slightly ahead of market expectations.
The Company will provide a further update at the time of the release of its interim results for the 6 months ended 30 September 2010, which are expected to be announced on 6 December 2010.
\* The reference to PBT is before intangible asset amortisation, share based charges and fair value adjustments.
For further information please contact:
| Tricorn Group plc Mike Welburn, Chief Executive Phil Lee, Group Finance Director
| +44 (0) 1684 569 956 |
| Arbuthnot Securities Limited Tom Griffiths Ed Groome | +44 (0) 20 7012 2000 |
| Winningtons Tom Cooper | +44 (0) 797 122 1972 |