- Tube manipulation specialist Tricorn posted a lower first-half profit, amid weaker demand in the UK and margin pressure in the US owing to increased tariffs on Chinese goods.

Pre-tax profit for the six months through September fell to £0.19m, down from £0.48m on-year. Revenue fell 7.3% to £10.6m.

No dividend was declared for the period.

'Whilst demand in the US remained broadly in line with expectations, demand in the UK slowed significantly through the second quarter,' chairman Andrew Moss said.

Profitability was adversely impacted by short-term pressure on margins in the uS due to the impact of increased import tariffs on goods sourced from China, he added.

'For the balance of the financial year we expect demand to remain low in the UK and to weaken in the US,' Moss said.

'We continue to focus on managing our cost base and working capital to align with these lower volumes whilst capitalising on the many new business opportunities referred to above.'

At 9:17am: [LON:TCN] Tricorn Group PLC share price was -2.5p at 10.25p

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