Engineering group Trifast TRI has just reported the “best six months’ profit in the company’s history,” according to chief executive Jim Barker. Cutting costs boosted margins, while the VIC business – an Italian maker of fastening systems acquired in May – has integrated well. Profit forecasts for the full year have been upgraded, too, on the back of a healthy order book.
The group’s 13 per cent sales growth was largely down to VIC, which contributed £7.5m to the result. Strip that out and sales rose 2 per cent. But that understates the health of the business: at constant exchange rates top-line growth would have been 7 per cent, with growth across all regions. Adjusted operating profit jumped 46 per cent to £7.07m, boosted by a £1.6m contribution from VIC.(…)
