RNS Number : 6461A
Tricorn Group PLC
03 April 2012
3 April 2012
Tricorn Group Plc
Pre-Close Trading Update
Tricorn Group plc (AIM: TCN.L), the AIM quoted tube manipulation specialist, today announces the following pre-close trading update following the end of its financial year to 31 March 2012.
Group sales are expected to be approximately 13% ahead of the previous year with all divisions experiencing strong demand through the final quarter.
Profit* margins are ahead of last year both at Group and divisional level reflecting the continuing improvement in operational performance. Whilst all of the divisions have made good progress the performance of the Aerospace division has been particularly encouraging and will see the business return to profitability for the full year.
With the positive momentum being maintained during the final quarter, full year Group PBT* is expected to be around GBP1.6m, being approximately 50% up on the previous year, and slightly ahead of the recently upgraded market expectations following the Company's trading update announced on 28 February 2012.
Given the continued strong performance of the Group, the Board will be recommending the payment of a final dividend as part of its progressive dividend policy. Further details on this and current trading will be given with our full year preliminary results which are scheduled to be released on 11 June 2012.
*The references to Profit and PBT are before intangible asset amortisation, share based charges and fair value adjustments.
Tricorn Group plc Tel +44 (0)1684 569956
Mike Welburn, Chief Executive www.tricorn.uk.com
Phil Lee, Group Finance Director
Westhouse Securities Limited Tel + 44 (0)207 367 9071
Winningtons Tel +44 (0) 20 3176 4722
Tom Cooper/Paul Vann Mob + 44 (0)797 122 1972
Notes to Editors:
Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy & Utilities, Transportation and Aerospace sectors.
Headquartered in Malvern, UK, Tricorn employs around 300 employees and operates through four brands: MTC; Redman Fittings; Maxpower and RMDG Aerospace.
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