- Trifast said overall, despite the macro economic trends and exchange rate effects, directors remain very encouraged by progress to date and the opportunities ahead, all of which are expected to contribute in delivering encouraging underlying organic growth which will be ahead of its current expectations.

"The Group is developing a strong forward order pipeline reflecting solid growth from both new and existing customers across its key sectors of global automotive, domestic appliances and electronics/telecoms infrastructure (4G)," Trifast said.

"Global OEM customers are by far the largest contributor to revenue.

"This trend is expected to improve further over the short to medium term as we focus on converting the opportunities to extend our 'preferred supplier' partnership status outside the traditional European OEM plants into numerous sister plants in Asia and the USA," it said.

"Margin improvement continues to be driven by ongoing operational process efficiencies.

"As previously stated, Trifast continues to investigate and pursue potential acquisitions that would be complementary to the Group's business and meet its strategic objectives.

"This has been recently exemplified by the successful integration of VIC, acquired in May 2014, and the cross-selling opportunities that are now emerging."

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