2011 Half-yearly Results Summary

Building reliably from a firm foundation

Key Financials

H1
30 September
2011
H1
30 September
2010
H2
31 March
2011
Full year
31 March
2011
Continuing operations
Revenue£55.44m£52.04m£54.05m£106.09m
Gross profit£14.25m£13.45m£13.27m£26.72m
Underlying operating profit1£2.67m£1.99m£2.34m£4.33m
Operating profit£2.42m£1.75m£1.33m£3.08m
Underlying pre-tax profit1£2.37m£1.72m£2.05m£3.77m
Pre-tax profit£2.13m£1.48m£1.04m£2.52m

1 Underlying profit is calculated before intangible amortisation, IFRS 2 charges and restructuring costs.

Highlights

  • Excellent further growth in profitability in the Half-year
    • UK - another strong broad based performance
    • Asia continues to provide a solid foundation
    • Europe - strong performance from 'Automotive Centre of Excellence'
    • USA - broke into profit - restructured focus going forward
  • Encouraging progress within all four key areas of focus
    • pricing, sourcing, TR branded offerings and sales
  • Return on Capital Employed ("ROCE") up to 10.3%
  • TR continues to see a number of opportunities for growth in its target markets

"Following on from the improvements we saw during the second half of the last financial year, our first half performance reflects not only revenue growth but more importantly, an excellent increase in profitability over the comparable 2010 period."

"The Directors are pleased with continued trading and even with the current 'Eurozone' difficulties, remain comfortable with current market expectations."


View the announcement in full