Tricorn Group plc - a niche manufacturer of pipe and tubing assemblies supplying worldwide markets in the Energy, Utilities, Transportation and Aerospace sectors.
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Key Financial Highlights

Highlights

  • Revenue up 45% to £21.8m (2010:£15.0m)
  • Operating profit margin* up 95% to 5.5%
  • Increased cash position and substantial reduction in net debt
  • Adjusted earnings per share up 3.2 times to 2.57p
  • Maiden dividend recommended

* Before intangible asset amortisation, 2009 restructuring charges and interest rate swap valuation.

  2011
£'000		 2010
£'000 		Change
%
Revenue 21,764 15,031 45
Operating profit* 1,198 425 182
Operating profit margin* 5.5% 2.8% 95
Profit before tax* 1,066 288 270
Cash & cash equivalents 1,612 1,296 24
Net debt 61 841 93
Adjusted EPS 2.57p 0.79p 325
Recommended dividend per share 0.1p -  

ENERGY - Fabricated tubular assemblies for diesel engines and radiator sets used in power generation, mining, oil and gas. TRANSPORTATION - Nylon, rigid and hybrid pipe assemblies for engines, brake systems, fuel sender sub systems used in both on and off highway applications. AEROSPACE - Rigid pipe assemblies for civil and military aerospace applications. UTILITIES - Patented jointing solution for multi layer and single layer pipe used in the water and gas markets. REVENUE BY SECTOR - ENERGY - £4,849k TRANSPORTATION - £4,671k AEROSPACE - £5,014k UTILITIES - £497k, OPERATING PROFIT (Pre-intangible amortisation). ENERGY - £96k TRANSPORTATION - £52k AEROSPACE - £128k UTILITIES - £53k UNALLOCATED - £96k