Trifast buoyed by rising economic confidence

17th Jun 2014 08:49

- Encouraged by full-year trading- Trading boosted by economic confidence and manufacturing output- New financial year starts on strong footingMechanical fasteners maker Trifast said it performed strongly in the last year and has started the new financial year on a similar trend.The firm said pre-tax profit rose to £8.87m for the year ended March 31st from £6.44m a year earlier. Group revenue for the period rose 7% to £129.78m, while basic earnings per share jumped 38%."The directors are pleased to report that the business is continuing to benefit from the uplift in economic confidence and manufacturing output, this is being seen across a number of our key sectors and across our business units," it said in a company statement.Trifast said underlying organic growth has been encouraging and this has been bolstered by the introduction of Viterie Italia Centrale. "Management remains confident that we can continue to deliver another strong performance and we look forward to keeping all stakeholders updated with our progress."CJ