Still delivering
Trifast (L:TRFT) is still delivering to plan, despite the more challenging trading climate. Management reports that trading has not been unduly affected, while investment continues in response to new business opportunities both in Europe and South-East Asia. The shares remain attractively priced.
Momentum sustained
Despite the deteriorating global trading climate, the clear message from Trifast is that the group is on course to deliver market estimates. We understand from management that very few schedules have been cut, while the upward momentum of new business continues. The two recent acquisitions are reported to be trading well; the recent recovery in the euro has begun to restore margins at VIC (Italy), while Kuhlmann (Germany) is more than meeting management expectations. A further trading update from management can be expected as the group enters its closed season in early April; meanwhile we are leaving our estimates unchanged.
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