Trifast PLC AGM Statement to Shareholders (6754G)
28 Julio 2021 - 01:00AM
UK Regulatory
TIDMTRI
RNS Number : 6754G
Trifast PLC
28 July 2021
Wednesday, 28 July 2021
Trifast plc
(Trifast, Group or Company)
Leading international specialist in the design, engineering,
manufacture, and distribution
of high quality industrial fastenings and Category 'C'
components principally to major global assembly industries
"Our fastenings enable innovation today to build a better
tomorrow"
ANNUAL GENERAL MEETING (Meeting)
STATEMENT TO SHAREHOLDERS
At today's Meeting (12 noon), Non-Executive Chair, Jonathan
Shearman will make the following statement on behalf of the
Board:
"There can be no doubt that the year to 31 March 2021 was a
challenging one. I am proud of what we achieved during those 12
months and remain grateful to our workforce and their families for
showing much resolve.
In trading terms, we saw a resilient performance last year, with
revenues down only 6% year on year and very strong cash conversion
which, alongside the equity raise, leaves us with a balance sheet
that facilitates organic growth, investment for the future and
acquisitions.
Turning to the current financial year (FY2022), the global
macroeconomic environment, whilst uncertain, has improved and it is
pleasing to report that quarter one revenues rebounded strongly,
being >50% higher year-on-year and showing growth on the
comparative period in FY2020. This is emanating from both existing
customers, new contract wins, and further supported by a very
healthy pipeline.
The roll out of Project Atlas continues apace with Spain and
Holland both having recently 'gone live' and we are actively
targeting acquisition opportunities in line with our long-term
growth strategy.
In the short-term, there continue to be macro-level challenges
to manage, most notably regarding freight costs as well as some
constraints and inflation more broadly in the supply chain. We are
working closely with customers and suppliers to mitigate the
ongoing impact of these and t o ensure that higher prices for raw
materials and transport can be appropriately passed on.
Given the strong momentum, as well as our effective management
of supply chain headwinds, the Board is confident in the Group's
outlook, with its full year FY2022 expectations unchanged.
Considering the medium term, as we said in the Annual Report,
the foundations are largely in place and Trifast stands on the cusp
of an extended period of strong growth."
NOTICE OF HALF-YEAR RESULTS
The Company looks forward to updating shareholders further on
progress at our next trading update to be released in mid-October,
ahead of half-yearly results which are currently scheduled for
Tuesday, 23 November 2021. Further information on this event will
be added to the website in due course .
Further enquiries please contact:
Trifast plc
Jonathan Shearman, Non-Executive Chair
Mark Belton, Chief Executive Officer
Clare Foster, Chief Financial Officer
Office: 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
Editors' note
LSE Premium Listing: Ticker: TRI
LEI number: 213800WFIVE6RUK3CR22
Trifast plc (TR) is a leading international specialist in the design,
engineering, manufacture, and distribution of high quality industrial
fastenings and Category 'C' components principally to major global assembly
industries. TR employs c.1300 people across 32 business locations within
the UK, Asia, Europe, and the USA including seven high-volume, high-quality,
and cost-effective manufacturing sites across the world. TR supplies to
c. 5,000 customers in c. 75 countries worldwide. As a full-service provider
to multinational OEMs and Tier 1 companies spanning several sectors, TR
delivers comprehensive support to its customers across every requirement,
from concept design through to technical engineering consultancy, manufacturing,
supply management and global logistics.
For more information, visit
Investor website: www.trifast.com
Commercial website: www.trfastenings.com
LinkedIn : www.linkedin.com/company/tr-fastenings
Twitter: www.twitter.com/trfastenings
Facebook : www.facebook.com/trfastenings
Note
Trifast, TR and TR Fastenings are registered trademarks of the Company.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMRRMMTMTBTTTB
(END) Dow Jones Newswires
July 28, 2021 02:00 ET (06:00 GMT)
Trifast (LSE:TRI)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Trifast (LSE:TRI)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024