RNS Number : 3126M
Trifast PLC
27 July 2017
 

 

 

 

 "HOLDING THE WORLD TOGETHER"

 

 

Trifast plc

('Trifast', the 'Group' 'TR' or 'Company')

 

Leading international specialists in the engineering, manufacturing and distribution

of high quality, industrial fastenings to major global assembly industries

 

 

·     STATEMENT TO SHAREHOLDERS

·     RESULT ANNUAL GENERAL MEETING

·     DIVIDEND

 

ANNUAL GENERAL MEETING (Meeting)

At today's Meeting (12noon 27 July 2017), Chairman, Malcolm Diamond MBE made the following summary statement on behalf of the Board to shareholders present:

 

"As a Company, we were delighted once again to report an excellent 2016/17 performance which saw record breaking results and, following approval of the final dividend today, it is gratifying to share this success and reward our shareholders. Over the last six years dividends paid have grown from 0.50p to 3.50p, equating to a compound annual growth rate ('CAGR') of 47.6%.

 

"Looking ahead and to the current financial year; Trifast entered the year strongly with a robust pipeline in place.  The capital and strategic investments already made and being planned in plant, people and logistics will see the Group remain in a good position to achieve further growth and to support our core objective of widening our multinational OEMs portfolio across the Group.  With nearly four months trading under our belt, the Board is pleased to report that TR's underlying business continues to perform well and in line with management expectations."

 

"As we have stated before, geographically Europe, Asia and the USA all remain key focus areas for us, both organically and non-organically.  To complement our strong underlying growth plans, further acquisitions remain an important strategic growth pillar for the Group.  Our acquisition strategy has been developed to identify key criteria and geographies and we will continue to use this to drive our proactive search for the next successful acquisition."

 

"As highlighted in our Annual Report, there will always be some macroeconomic factors we cannot fully mitigate, including movements in foreign currency and the ongoing volatility in the raw materials markets. However, given the Group's geographical diversity, our balanced sector mix and our clear strategies for growth, we remain confident about the Group's prospects."

 

The Group's next Trading Update will be in mid-October ahead of the Half-year Results for the period ending 30 September 2017 which are due for release in November.

 

RESULT OF ANNUAL GENERAL MEETING (Meeting)

All resolutions put to Members at today's Meeting were duly passed on a show of hands.  The resolution proxy votes will be provided on the Group's website, www.trifast.com, shortly and details can also be made available on request to the Company Secretary.  In accordance with Listing Rule 9.6.2R, a copy of the resolutions passed as Special Business at the AGM will be submitted to the National Storage Mechanism and available for inspection at www.morningstar.co.uk/uk/nsm

 

DIVIDEND

With our proven track record, a strong balance sheet and a confident strategy for growth, we remain committed to a progressive dividend policy.  Shareholders today approved the payment of a final dividend of 2.50p per share which will be paid on 13 October 2017 to Members on the Register at the close of business on 15 September 2017.  The ordinary shares will become ex-dividend on 14 September 2017.  The total dividend for the year is 25% up on the prior year (2016: 2.80p).



 

 

 

Enquiries please contact:

 

Trifast plc

Lyndsey Case, Company Secretary

Tel: +44 (0) 1825 747630

Email: corporate.enquiries@trifast.com

 

Peel Hunt LLP

Stockbroker & financial adviser

Justin Jones or Mike Bell

Tel: +44 (0)20 7418 8900

 

TooleyStreet Communications

IR & media relations

Fiona Tooley

Tel : +44 (0)7785 703523

Email : fiona@tooleystreet.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EDITOR'S NOTE

 

TRIFAST PLC

LSE Premium Listing: Ticker: TRI

 

About us: Trifast is a leading international specialist in the engineering, manufacturing and distribution of high quality industrial fastenings to major global assembly industries.  We are a 24/7 'full service provider' offering 'end-to-end' support to all our customers.  Our success and ongoing growth is based on a unique mix of high quality manufacturing, sourcing know-how and adaptable, reliable global logistics.  Key sectors are automotive, domestic appliances, electronics and distributors.  The Group employs c.1,200 staff across 27 global locations across the UK, Europe, Asia and the USA.

 

For more information, please visit

Group website: www.trifast.com 

LinkedIn: www.linkedin.com/company/tr-fastenings

Twitter: www.twitter.com/trfastenings

Facebook: www.facebook.com/trfastenings

 

 

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

 


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