Source - RNS
RNS Number : 1674M
Tricorn Group PLC
11 October 2016
 

 

  11 October 2016

Tricorn Group Plc 

("Tricorn" or the "Group")

Trading Update

Tricorn Group plc (AIM: TCN.L), the AIM listed tube manipulation specialist, provides the following trading update for the six months ended 30 September 2016 (the "period").

First half revenue for the Group's continuing operations is expected to be around 11% higher than the six months ended 31 March 2016 (the "previous period") and around 12% lower than the six months ended 30 September 2015 (the "corresponding period"). Markets in which the Group operates remained weak, however the impact of new business wins in both the USA and UK delivered revenue growth over the previous period. 

The Board expects adjusted PBT* for the period to be in line with its expectations and that the results for the full year will be in line with market expectations.  

In China, the previously announced project to combine the activities of the Group's wholly owned facility and joint venture into a single operation was completed to plan. 

Tricorn will provide a further update on current trading and prospects at the time of the release of its unaudited interim results for the six months ended 30 September 2016, which is expected to be on 7 December 2016. 

*All references to PBT are before restructuring costs, intangible asset amortisation, share based charges, foreign exchange derivative valuation.

 

 

 

For further information please contact:

 

Tricorn Group plc                 


Mike Welburn, Chief Executive     

Tel +44 (0)1684 569956

Phil Lee, Group Finance Director

www.tricorn.uk.com



Stockdale Securities Limited      


Tom Griffiths

Henry Willcocks

Tel + 44 (0)20 7601 6100

 

Notes to Editors:

Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy and Transportation sectors.

Headquartered in Malvern, UK, Tricorn employs around 300 employees, has 4 manufacturing facilities in China, USA and UK. It operates through four brands: Franklin Tubular Products, Malvern Tubular Components, Maxpower Automotive and Minguang-Tricorn Tubular Products. 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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