Global Fastener News

Trifast Sales & Profits Rise

Jason Sandefur

UK-based Trifast six month results showed revenues increased by 33% to �67.8m (US$131.5m) and operating profit up a strong 72% at �3.8m (US$7.37m).
Trifast confirmed the successful integration of Serco-Ryan, acquired in 2005, and the achievement of planned �2m (US$3.9m) cost savings.
More than 50% of Trifast”‘s operating profits are now generated from outside the UK reflecting a four-year international growth strategy now “in place and delivering.”
“Trifast is now truly international with over half of its profits being generated outside the UK and a growing presence in the fast growing Asian markets, as illustrated by the recent acquisition of 25% of Techfast,” noted chairman Anthony Allen.
Trifast aims to grow its market share of a European market estimated at �7.2 billion from 1.8% to 3% over the next four years. It has streamlined its European operations and reorganized its European sales force to drive sales growth and is currently reorganizing its supply chain management to support this.
Its investment in Malaysian self clinch fastener manufacturer Techfast has helped to secure new business in the LCD flat screen industry in Turkey through TR Keba, acquired in 2005.
North American business has moved in profitability during the period and Trifast says it aims to establish itself as a provider of specialist products to the American distribution industry. Web: trifast.com �2006 FastenerNews.com and Fastener & Fixing Europe