Trifast enjoys strong trading

15th Aug 2013 08:36

Mechanical fasteners maker Trifast said all of its divisions in Asia, Europe and the US have traded strongly from April to date. The Birmingham based firm said it had been encouraged by new business opportunities particularly in Asia and the US within its key Automotive and Electronics sectors."As we stated back in June, having spent the previous two years improving TR's operational processes to enhance margins, we now have the capacity to focus once again on top line growth," it said in a company update."More recently, Sales engineers have been recruited and inducted to help drive our 'roll-out' into the many individual assembly sites of the multinationals that have already nominated TR as a 'Preferred Supplier', it added.Similarly, a recovery in sales of its TR Branded products to Distributors in the UK and Mainland Europe is indicating a slow macro-economic recovery, it said.Trifast said it has minimal bad debts and foreign exchange, although unpredictable, "has to date presented less headwind than anticipated in this financial period".CJ