Trifast Regulatory News (TRI)

Date: Thursday, 7 February 2013

Immediate Release

Trifast releases this Interim Management Statement in respect of the period 1 October 2012 to 31 December 2012, together with a Trading update for the year ending 31 March 2013.

TRADING

Overall, trading has been solid and encouraging with organic Revenue in the third quarter slightly ahead of the comparable 2012 period. Whilst Revenue growth is important to the business and new business continues to be pursued selectively by means of detailed centralised cost modelling, one of the Group's key drivers remain, the focus on quality of earnings and margin enhancement; this has resulted in positive profit growth for the third quarter.

PSEP Malaysia, acquired at the end of 2011 has integrated well; in line with the Terms of Acquisition detailed in the Prospectus on 16 November 2011, a final payment of just under £1.4 million, (retained for 12 months against any warranties and claims) was paid to the previous owners in December 2012.

The Group continues to trade well within its banking covenants and there has been no significant change in the Group's financial position since Half-yearly results were reported in November 2012.

Consequently, whilst some top line growth has been deliberately constrained, profitability for the Group is on track to meet market expectations to 31 March 2013, thus completing another year of consistent growth.

OPERATIONAL STRUCTURE

The 'Process Management' model referred to within our 2012 Annual Report incorporated a 'people, performance & responsibilities' programme across the Company and at all levels. As a direct result of the 'value assessment' model (which is aligned to strategy and objectives), we are now utilising skills and knowledge more effectively which, in turn, is further shaping TR's on-going Senior Executive development and succession planning programmes.

This also identified where TR could benefit by more effective deployment of resources within existing systems and structure, and by further streamlining and realignment of responsibilities within the Operational team, TR could deliver additional cost initiatives and 'self-help' objectives set as part of the new three-year strategy plan unveiled last year. Having successfully completed his key strategic projects within the first three-year plan initiated in 2009, Executive Director Seamus Murphy stepped down from the Main Board at the end of January and will be handing over his responsibilities by the end of the current financial year. Seamus joined the business in 2005 following the acquisition of Serco Ryan and was appointed to the Board in 2010; on behalf of all stakeholders and colleagues, the Directors sincerely thank him for his service and his input over the last seven years, particularly since he joined the Board; and we wish him and his family well in the future.

SUMMARY

The Main Board & Operational Management teams are optimistic for 2013 and beyond with regard to the Group's structure and further improving organic profitability; and combined with new business expansion opportunities, the Management feel fully confident in their ability to deliver a satisfactory result at the year end.

We look forward to updating stakeholders throughout the year on the Company's progress.

Enquiries:

Trifast plc

TooleyStreet Communications Ltd

Arden Partners plc

Malcolm Diamond MBE, Executive Chairman

Jim Barker, Chief Executive

Mark Belton, Group Finance Director

Telephone: +44 (0) 1825 747366

IR, Corporate & Media Relations

Fiona Tooley or Graeme Cull

Mobile: +44 (0) 7785 703523 (FT)

Telephone: +44(0) 121 309 0099

Adrian Trimmings

Telephone: +44 (0) 20 7614 5900

Editors Note:

LSE Premium Listing: Ticker: TRI

Group website: www.trifast.com

Trifast's trading business TR Fastenings is a leading international manufacturer and distributor of industrial fastenings to the assembly industries, with operations in Europe, the Americas and Asia. For more information, please visit www.trfastenings.com

Twitter: www.twitter.com/trfastenings

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LinkedIn: www.linkedin.com/company/tr-fastenings