5 Apr 2019 07:00
5 April 2019
Tricorn Group Plc
("Tricorn", the "Company" 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 2019 (the "Year").
Revenue for the Year is expected to be around 2.5 per cent. ahead of the previous year. New business growth in the Transportation division more than offset the reduction in revenue in the Energy division which, as anticipated, saw significantly lower demand from the power generation rental sector. The Company's joint venture in China continues to perform well.
Adjusted PBT* for the Group is expected to be around 30 per cent. up on the previous year.
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 3 June 2019.
*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 |
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Mike Welburn, Chief Executive | Tel +44 (0)1684 569956 |
Phil Lee, Group Finance Director | www.tricorn.uk.com |
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Shore Capital |
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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.