Introduction from CEO

Since listing on AIM back in 2001 I think everyone at Tricorn can be tremendously proud of what we have achieved to date but we still have much to do to realise our ambitions.

We have demonstrated our ability to grow organically and to integrate carefully selected acquisitions successfully and we will continue to progress in these areas as we extend our market penetration and global reach. At the same time we have also proved that we can respond and meet the challenges presented by global economic downturns. Despite the significant reduction in demand in 2009/10 the Group remained profitable and cash generative with our net debt halving through the period.

Aligned with blue chip OEMs we are now seeing markets recovering strongly providing an ideal platform for further growth.

I remain grateful for the continued support of our shareholders, the invaluable contribution from the Board and the Senior Management team and the tremendous hard work and commitment of the employees throughout Tricorn.