Trifast’s U.S. Unit Turns Profitable
Trifast’s U.S. Unit Turns Profitable
Jason Sandefur
UK-based Trifast reported sales during the first half of fiscal 2008 declined 2% to GBP 60.7 million (US$90.15m), despite a 12% rise in sales to mainland Europe. First-half profit dropped 37% to GBP 2.81 million (US$4.17m).
Sales in the U.S. improved nearly 10% to GBP 1.67 million (US$2.48m), helping the stateside business unit to report its first profit in three years.
Revenues in Europe and the U.S. represent 21.7% of Trifast sales, up from 18.9% in 2007.
Asian revenues increased 2% to GBP13.85 million (US$20.5m), though margins were reduced by lower demand and additional raw material price hikes at two main factories in Singapore and Taiwan.
Trifast manufactures and distributes industrial fasteners and components, with locations in Europe, the Americas and Asia. Web: trfastenings.com �2008 FastenerNews.com
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