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Tricorn Group six month review - 52% increase in earnings per share

Tricorn Group six month review - 52% increase in earnings per share

Wed 5 Dec 2018 07:47 by ukcitymedia.co.uk about : trading updates - 0 Comments - 3070 words


Tricorn Group plc (AIM: TCN.L) the AIM listed tube manipulation specialist, announces its unaudited interim results for the six months ended 30 September 2018.

 

Highlights (comparable six months ended 30 September 2017)

      ·    Earnings per share increased 52% to 1.52p
·    Profit up 49.5% to £0.553m
·    Gross margin up 0.5%
·    Improved profitability of the Transportation division
·    Continued growth in profits from the China Joint Venture

 

Financial Summary

 

Unaudited

Unaudited

 

 

six months to

six months to

Year ended

 

30 September

30 September

31 March

 

2018

2017

2018

 

£'000

£'000

£'000

 

 

 

 

Revenue

11,415

11,427

22,180

EBITDA*

944

744

1,575

Profit before tax*

553

370

827

Cashflow generated by operations

320

332

1,532

Cash & cash equivalents

643

887

692

Net (Debt)

(3,288)

(3,470)

(2,982)

Earnings per share - basic*

1.52p

1.00p

2.65p

 

 

-

-

*All references to EBITDA, operating profit, profit before tax and EPS are before intangible asset amortisation, share based payment charges and foreign exchange derivative valuation.

 

Andrew Moss, Chairman of Tricorn, commented:

 

"The Group has made good progress over the past six months with a focus on margins which contributed to a significant increase in profit before tax and a 52% increase in earnings per share compared to the first half of last year.  

This reflects the benefits of an efficient operational base spanning three key geographic regions, a global customer base and new business opportunities across both divisions, which are being implemented. The pipeline of new business opportunities remains encouraging.

Over the past two years, we have seen significant growth in our end markets.  However, towards the end of the period, we witnessed signs of this growth slowing. Against this background, and after considering the impact of new business wins, the Board anticipates Group revenues in the second half to be similar to the first and full year underlying profit before tax to be in line with market expectations."

 



These articles are usually news summaries / highlights and dont always include all financial news updates. Check at company website INVESTORS INFORMATION for full published results.


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