10 Apr 2018 07:00
10 April 2018
Tricorn Group Plc ("Tricorn" or the "Group")
Trading Update
Tricorn Group plc (AIM: TCN.L), the AIM listed tube manipulation specialist, provides the following pre-close trading update for the financial year ended 31 March 2018 (the "Year").
Revenue for the Year is expected to be around 20 per cent. ahead of the previous year with the Group benefitting from buoyant end markets and the impact of new business wins.
Excellent progress has been made across both of the Group's divisions with all businesses delivering increased revenue and substantial improvements in profitability over the previous year. The performances of the Group's USA business and its joint venture in China have been particularly encouraging.
The Group's results in the final quarter of the financial year were better than anticipated, therefore the Board now expects adjusted PBT* for the Year to be ahead of market expectations.
Tricorn will provide a further update on current trading and prospects at the time of the release of its audited full year results, which is expected to be on 6 June 2018.
*All references to PBT are before restructuring costs, intangible asset amortisation, share based charges, foreign exchange derivative valuation.
For further information please contact:
Tricorn Group plc | |
Mike Welburn, Chief Executive | Tel +44 (0)1684 569956 |
Phil Lee, Group Finance Director | www.tricorn.uk.com |
Stockdale Securities Limited | |
Tom Griffiths Henry Willcocks | Tel + 44 (0)20 7601 6100 |
Notes to Editors:
Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy and Transportation sectors.
Headquartered in Malvern, UK, Tricorn employs around 300 employees, has 4 manufacturing facilities in China, USA and UK. It operates through four brands: Franklin Tubular Products, Malvern Tubular Components, Maxpower Automotive and Minguang-Tricorn Tubular Products.