Trifast (TRI)

Business description

Trifast is a leading global designer, manufacturer and distributor of industrial fasteners. Principal operations are in the UK, South-East Asia and continental Europe, while there is a modest, but growing, presence in North America.

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 161.4 18.2 16.0 9.99 26.1 19.1
2017A 186.5 22.9 20.5 12.82 20.4 13.5
2018E 199.1 23.5 21.3 13.19 19.8 17.5
2019E 205.1 24.1 21.9 13.51 19.3 16.7

Last updated on 21/02/2018

Investment summary

Organically, the order pipeline remains strong with global demand and financial performance across Trifast's main regions of the UK, Europe and Asia remaining as anticipated. The company continues to invest in facilitating future increases in demand, with more recent significant investments in Italy and Taiwan already delivering benefits, and the investment in local manufacturing capacity in Singapore proceeding as planned. In addition, the company remains vigilant for M&A opportunities with which to further develop the strategy, augment growth and enhance shareholder value.

Last updated on 02/03/2018

Industry outlook

The global specialist industrial fasteners market is valued at around £25bn. Successful manufacturers and distributors responded to the shift in manufacturing to lower-cost regions by developing their own local facilities and/or supply routes. They have also created effective logistical services and shifted the emphasis towards more complex products to increase value added. A recent increase in M&A activity in the sector looks set to continue in the immediate future.

Last updated on 02/03/2018

Key management

Malcolm Diamond, Chairman
Mark Belton, CEO
Claire Foster, FD

Company address

Trifast House
Bellbrook Park
E. Sussex
TN22 1QW
United Kingdom
+44 (0)1825 747366
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