StockMarketWire.com - Trifast, a specialist in the engineering, manufacturing and distribution of industrial fastenings, says it will deliver trading results for the financial year ended 31 March 2018 slightly ahead of management expectations.

The company's European operations benefited from a stronger second half of underlying CER organic growth, most specifically in the automotive sector with double digit growth across both the Dutch and Swedish operations.

On the domestic appliances side there has been a return to more normal trading levels over the year following abnormally high sales volumes as Trifast supported a significant global product recall programme for one of itskey accounts.

Following a stronger second half, the UK also experienced robust year on year organic growth, reflecting an approach aimed at growing both core multinational OEM customers and European distributor sales.

In Asia, there was solid year on year CER growth particularly across key domestic appliances and automotive sectors. However, the strong double digit growth experienced in the first half of the financial year was not sustained into the second half, largely due to the ongoing reduction in demand at one of the region's key automotive customers.

Within the North American presence, the TR operation is recovering well following the impact of Hurricane Harvey last year with strong year on year CER growth being driven from new automotive wins in the region.




At 8:30am: [LON:TRI] Trifast PLC share price was +3.5p at 272.5p



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