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Trifast Says Current Trading In Line With Management View - Quick Facts

Trifast plc (TRI.L), a manufacturer of industrial fastenings, Wednesday reported that group current trading across all regions in the period to August 31 remains encouraging and in line with management expectations.

In its trading update ahead of the 2015 Annual General Meeting being held today, the company noted that its business in the financial year ended March 31 delivered its strongest trading performance since it was formed over 40 years ago.

Although the potential Chinese slowdown could have an impact on global markets, the company's sales within and into China currently amounts to only around 5% of the Group's annual revenue.

The company added that its pipeline is strong so it remains encouraged by the future growth profile of the business and commercial progress looks set to continue positively during 2015/16.

Malcolm Diamond MBE, Executive Chairman, said, "Our search actively continues to add niche, well run businesses to the Group's portfolio which meet our criteria and support our growth plans and ambitions. There are some macroeconomic influences that we cannot control which may affect future earnings; however as a business we remain confident in our ability to deliver our strategy and progression in the future."

Further, the company said that Mark Belton will take up the role of Chief Executive Officer and Clare Foster, Group Financial Controller, will become Chief Financial Officer and join the Main Board with effect from October 1.

Current CEO, Jim Barker, who would be stepping down at the end of September, will remain available to the Group in a consultancy role until June 30, 2016.

The Company will update shareholders further on its progress at its Half-Year results which are scheduled to be announced on November 10.

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