Note from Zeus Capital via Research Tree out. I don't subscribe, but the free summary seems positive and it's surely worth over a quid???
Voila:
"Trifast, a global specialist in the design, engineering, manufacture and distribution of industrial fasteners, has provided a Q3 update confirming full year performance remains in line with expectations despite ongoing economic challenges. Zeus view today’s statement as highly encouraging and provides further evidence that Trifast is continuing to deliver against its transformational Recover, Rebuild and Resilience strategy set out last July" |
Very quiet. Anyone noticed the Director buys since 20th Dec? |
More yesterday and today too. 80p looks like a trigger point to step in and buy for Nick Mills. |
>£240k at 81p; quite a vote of confidence by a NED. |
NOTE: Peel Hunt are broker to Trifast.
‘Buy’ Trifast, says Peel Hunt -
Peel Hunt is backing the turnaround story at Trifast (TRI), the manufacturer of bolts, nuts, screws and washers.
Analyst Lauren Baker Iguaz reiterated her ‘buy’ recommendation and target price of 140p on the stock, which gained 2.6% to 80p on Tuesday and has climbed 14.3% over the last 12 months.
First-half results from the group were ‘resilient’ and it reiterated full-year 2025 results. It achieved the highest gross margin since 2020.
Baker Iguaz said the first-half results showed ‘strategic progress and mid-term confidence are encouraging’.
‘Margins have improved, cash generation is solid, the balance sheet is strong, and the company remains confident in its mid-term ambitions,’ she said.
‘Our forecasts remain unchanged and we continue to believe in the turnaround story and that management can deliver what it promised.’ |
Nice to see CEO purchasing such a decent chunk of shares.....DYOR |
Richard Staveley of Harwood capital - well worth watching & listening
(Good content re TF) |
Have bought a few more this week....DYOR |
Decent update IMO/DYOR |
Not much volume, yet off nearly 10%! ANy views |
Well, IMO that dip/sell off has been well bought, was nearly 30% off on the open, now only 14% off....DYOR |
Market is digesting this news pretty well IMO....this was always a re-structure, de-leverage "play" so maybe market are saying, OK, get all bad news out and let's focus on delivering that flip from debt value into equity...DYOR let's seee |
Well good news is the leverage is coming right down, so long-term hold now! DYOR |
Expect significant markdown on opening- Closing Friday 92/95
"Consequently, the Board now expects that the Group's results for the year ending 31 March 2024 to be significantly below its previous expectations, with revised revenue at c.£230m and adjusted EBIT margin percentage of c.5%.
The more testing environment that we are now experiencing in 2024 in terms of growth is being severely impacted by a further slowdown in customer demand and volumes across the business and to an extent by the reported macro-economic challenges and geopolitical events." |
Stake in Trifast has gone. |
it's always been a bit opaque, but they do manufacture as well. in fact as i understand it they distribute stuff they make and third party product, and they sell stuff they make and distribute it themselves. i think their strongest hand lies in the fact they can supply a vast array of small components in the right mix at the right time - not a skill to be underestimated or undervalued. |
Has this company got any protective moats for its business ?
For its distribution turnove (~3/4 of turnover) I don't see any.
If a car company wants X million fasteners per month, they can get a quote from Trifast as the distributor and also directly from manufacturers.
If the distributor wants too much commission then just deal directly with the producer.
Or am I missing something ?
And for fasteners that they make then the clients will surely seek competing quotes, which will surely limit the possible profit. And if the exchange rate moves against you might go from being busy to having little work since a competitor in other currency area might suddenly be cheaper than Trifast. |
Starting to gain some momentum |
Intrim results tomorrow. Any views ?? |
Signs of life |
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