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8 Apr 2010 07:00
Tricorn Group plc (the "Group")
Pre-Close Trading Update
8th April 2010
Following completion of the financial year to 31st March 2010, Tricorn Group plc, the AIM listed tube manipulation specialist, announces the following pre-close trading update.
Market conditions in our Energy and Transportation segments have been steadily improving, with demand toward the end of the period being particularly encouraging. Orders within our Utilities segment also increased in the final quarter, which, combined with the above, have more than offset the lower activity levels within our Aerospace segment.
Revenues for the second half are expected to be around 15% up on the first half and at £15.0m for the full year. EBITDA* is anticipated to be in line with market expectations. However our reduction in net debt, principally through the first half, has lowered borrowing costs and the resultant PBT* will be ahead of market expectations.
The Group's Preliminary results will be announced 10th June 2010
*Stated before impairment and share based charges and fair value adjustments
For further information please contact:
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Tricorn Group plc |
www.tricorn.uk.com |
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Mike Welburn, Chief Executive |
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Tel +44(0) 1684 569956 |
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corporate@tricorn.uk.com |
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Phil Lee, Group Finance Director |
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Tel +44(0) 1684 569956 |
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corporate@tricorn.uk.com |
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Collins Stewart Europe Limited |
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Tom Hulme / Adam Miller |
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Tel: +44 (0) 20 7523 8350 |
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