Last checked at 25 Jul 2018 12:42
Wednesday, 25 July 2018
Trifast plc
(Trifast, Group or Company)
Leading international specialists in the engineering, manufacturing and distribution
of high quality, industrial fastenings to major global assembly industries
"HOLDING THE WORLD TOGETHER"
· STATEMENT TO SHAREHOLDERS
· RESULT ANNUAL GENERAL MEETING
· DIVIDEND
ANNUAL GENERAL MEETING (Meeting)
At today's Meeting (12noon 25 July 2018), Chairman, Malcolm Diamond MBE made the following statement on behalf of the Board to shareholders present:
"The year to March 2018 delivered another year of strong growth and ongoing investment across all our regions. Trifast remains financially well positioned to pursue its 'invest and grow' strategy.
"As the business has grown, Trifast has invested both in its manufacturing and distribution footprint. Our latest acquisition PTS, completed at the start of the new financial year, has settled well into the Group and brings new products and technical expertise, further enhancing our portfolio offering on a global basis.
"As an international business with over 70% of our revenues now being generated outside the UK, a very well-balanced geographical and sector spread of activities, together with a robust balance sheet, good banking relationships and access to facilities means the Group is in a great position to keep moving forward."
"Shareholders will have also read in our 2018 Annual Report about Project Atlas and the key drivers of this initiative. The scale and scope of this multi-year investment programme will further integrate our global business to create the Trifast of tomorrow, ensuring we are able to continue to meet and exceed the ever-evolving needs of our 40+ and growing Multinational OEM customers. With our proven track record of profitable investment, this is a very exciting time for Trifast as a business. The Board is fully committed to this multi-year project and we look forward to providing regular updates as we progress."
"The current financial year has started well across our business, matched by a robust pipeline of opportunities in place. Despite prevailing external macroeconomic factors and the well documented diesel-led temporary reductions in UK automotive manufacturing volumes, we have the flexibility to keep moving forward and therefore the Board remains confident of delivering on its expectations for the year ahead.
"The Group's next Trading Update will be released on the 26 September 2018 ahead of the Half-yearly report for the period ending 30 September 2018 which are due for release in mid-November."
RESULT OF ANNUAL GENERAL MEETING (Meeting)
All resolutions put to Members at today's Meeting were duly passed on a show of hands. The resolution proxy votes will be provided on the Group's website, www.trifast.com. In accordance with Listing Rule 9.6.2R, a copy of the resolutions passed as Special Business at the AGM will be submitted to the National Storage Mechanism (NSM) and available for inspection at www.morningstar.co.uk/uk/nsm.
DIVIDEND
Following shareholder approval today, a final dividend of 2.75p per share will be paid on 12 October 2018 to shareholders on the register at the close of business on 14 September 2018. It is encouraging to see that, over the last five years, dividends have grown from 0.80p to 3.85p, equating to a compound annual growth rate ('CAGR') of 37%.
Further enquiries please contact:
Trifast plc Malcolm Diamond MBE, Non-Executive Chairman Mark Belton, Chief Executive Officer Clare Foster, Chief Financial Officer Tel: +44 (0) 1825 747630 Email: corporate.enquiries@trifast.com |
Peel Hunt LLP Stockbroker & financial adviser Mike Bell Tel: +44 (0)20 7418 8900 |
TooleyStreet Communications IR & media relations Fiona Tooley Tel : +44 (0)7785 703523 Email : fiona@tooleystreet.com |
TRIFAST PLC
LSE Premium Listing: Ticker: TRI
About us: Trifast is a leading international specialist in the engineering, manufacturing and distribution of high quality industrial fastenings to major global assembly industries. We are a 24/7 'full service provider' offering 'end-to-end' support to all our customers. Our success and ongoing growth is based on a unique mix of high quality manufacturing, sourcing know-how and adaptable, reliable global logistics. At March 2018, key sectors served by TR are: automotive (33%), domestic appliances (22%), electronics (16%) and distributors (10%) with the balance from a mix of sectors (19%). The Group employs c.1,300 staff across 31 global locations across the UK, Europe, Asia and the USA.
For more information, please visit
Group website: www.trifast.com
LinkedIn: www.linkedin.com/company/tr-fastenings
Twitter: www.twitter.com/trfastenings
Facebook: www.facebook.com/trfastenings
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