- Tube manipulation specialist Tricorn has said that the 'significant disruption' caused by COVID-19 means that revenue and EBITDA for the six months ended 31 March 2020 are expected to be respectively approximately 20% and 87% lower than in the six months ended 30 September 2019.

In a trading update, the group said that its UK and US facilities reopened from 20 April onwards, albeit with reduced staffing levels and employees continuing to work from home wherever possible, as most of the group's UK and US employees were furloughed from the end of March.

Tricorn confirmed that while trading at its UK Malvern facility has returned to pre-COVID-19 levels, the UK West Bromwich and US facilities continue to experience 'significantly lower demand'.

Both the UK facilities were temporarily closed on 25 March 2020 and its US facilities closed a few days later.

Its Chinese joint venture has continued to operate normally following the reopening of its facility on 15 February 2020.

At 9:31am: [LON:TCN] Tricorn Group PLC share price was -1p at 7.5p

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