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Trifast (TRI) - decent results and possibility of further upgrades?

19/06/2012 · Trifast (TRI) 

There were decent full-year results from the manufacturer and distributer of industrial fastenings marginally ahead of expectations.

Revenue was up 6.1% to £112.51m (including a £3.56m from the Malaysian PowerSteel acquisition), underlying pre-tax profit up 32.6% to £5.0m and eps up 24% to 3.76p. A 0.5p dividend was re-introduced equating to a yield of just over 1% at the current share price.

Net debt at year end was £8.41m representing gearing of 15.7% and broadly in line with consensus estimates.

The key driver of growth in the year was the…

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