TCN.L Regulatory News (TCN)

4 April 2011

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 financial year to 31 March 2011.

Second half sales for the period ended 31 March 2011 are expected to be over 10% higher than the first half and full year sales are expected to be around 40% ahead of the previous year. Our Energy and Transportation sectors remain the principal driver for this with both sectors benefitting from strong market recovery and new business wins. We have also been encouraged by the continued growth in demand in the Utilities sector, albeit from a relatively low base. Aerospace sales in the second half will be at very similar levels to those in the first half.

With the strong final quarter and improved operating profit* margin we expect full year Group PBT* to be significantly ahead of market expectations and to be around £1 million.

Given the continued strong trading of the Group, the Board is considering recommending the payment of a nominal maiden dividend as part of a longer term progressive dividend policy. Further details on this and current trading will be given with our full year preliminary results which we expect to release on 6 June 2011. 

\* The reference to operating profit and PBT is before intangible asset amortisation, share based charges and fair value adjustments.

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Notes to Editors:

Tricorn Group plc is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy, Transportation, Aerospace & Utilities sectors.

Headquartered in Malvern, UK, Tricorn employs over 300 employees and operates through four brands: MTC; Redman Fittings; Maxpower; and RMDG Aerospace.