10 Oct 2018 07:00
10 October 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 six months ended 30 September 2018 (the "period").
First half revenue is expected to be in line with the six months ended 30 September 2017 (the "corresponding period") and approximately 6 per cent. ahead of the six months ended 31 March 2018. Growth in the Transportation division in the period offset the reduction in the Energy sector where demand from the power generation rental sector was, as anticipated, lower than the corresponding period.
The Group has remained focused on improving operational performance. As a result, the Board expects adjusted PBT* for the period to be significantly ahead of the corresponding period and that results for the year ending 31 March 2019 will be in line with market expectations.
Tricorn will provide a further update on current trading and prospects at the time of the release of its unaudited interim results for the six months ended 30 September 2018, which is expected to be on 5 December 2018.
*All references to PBT are before intangible asset amortisation, share based charges and 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.