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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)
2017A 186.5 22.9 20.5 12.82 19.0 12.6
2018A 197.6 24.7 22.2 13.78 17.7 19.2
2019E 209.9 25.9 23.2 14.36 17.0 17.0
2020E 218.9 27.3 24.3 15.03 16.2 14.5

Last updated on 26/06/2018

Investment summary

Trifast delivered another record financial performance in FY18. Management is now launching Project Atlas to integrate its management, customer-facing and manufacturing processes through a £15m investment over the next three years. By maintaining leading customer service and quality levels, the move is a clear support for the invest and grow strategy. Following the recent acquisition of Precision Technology Supplies (PTS) in the UK, the company retains adequate resources to pursue additional M&A should appropriate opportunities arise.

Last updated on 29/06/2018

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 29/06/2018

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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