Trading Statement
Summary by AI BETAClose X
21 October 2025
Trifast plc
Trading update for the six months ended 30 September 2025 and Notice of Half-year results
Trifast plc ('Trifast' or the 'Group' or 'Company', LSE: TRI.L), the international specialist in the design, engineering, manufacture, and distribution of high-quality engineered fastenings, is today providing a trading update for the six months ended 30 September 2025 ('H1 FY26' or the 'period') ahead of the publication of its half-year results on 18 November 2025.
Trading update
The Group's overall performance in the first half of FY26 has been in line with the Board's expectations, with continued benefits from operational improvement initiatives creating resilience amidst a challenging market backdrop.
Revenues in the period declined by approximately 6.4% year-on-year1, driven primarily by softer demand caused by tariff disruption, with unprecedented challenges in the UK Automotive sector, partially offset by growth in Smart Infrastructure, especially in North America. Encouragingly, underlying gross margin improved by around 144 basis points to 28.8%, with margin management being the most significant contributor and underlying EBIT margin improved from 6.0% in H1 FY25 to 6.3% (CER). Excluding the impact of exchange movements, which were unusually high because of the weakening of the USD, the underlying EBIT margin improved from 6.5% in H1 FY25 to 7.1%.
We continue to benefit from our self-help actions and consequent cost savings, including a 10% reduction in non-operating headcount and ongoing benefits from the successful consolidation of our UK operations into the National Distribution Centre in the West Midlands.
Our financial position remains robust. Pre-IFRS 16 net debt increased modestly to £17.4m at 30 September 2025 (H1 FY25: £15.4 million) as a result of planned additional investment in digital and technology strategic projects. Liquidity remains strong, with over £78.0m of our £120.0m banking facilities undrawn, and covenant leverage remaining below 1.0x (H1 FY25: 0.95x).
Outlook
The Board's current full year expectations remain unchanged despite external market challenges2. Our strategic focus continues to be on the self-help levers within our control, particularly those driving working capital improvements and margin enhancement.
Looking ahead, we remain confident in delivering our medium-term targets, including achieving an underlying EBIT margin of greater than 10%. This confidence is underpinned by the substantial groundwork already completed to make Trifast a more efficient, professional, and data-led organisation.
Notice of Half-year results
The Group's Half-year report for the period ended 30 September 2025 is scheduled to be published on Tuesday, 18 November 2025 via the Regulatory News Service (RNS). The report will also be available on the Group website at www.trifast.com.
An in-person and virtual presentation for analysts and investors will be held at 10:30 GMT at the offices of Peel Hunt. Please contact companysecretariat@trifast.com for details. The presentation and subsequent Q&A session will be webcast via BRR Media. To register, please follow this link: https://stream.brrmedia.co.uk/broadcast/68ee263d1c6d3400130c866b . A replay will be made available on the Trifast plc website.
The Company will also be presenting the HY26 results via the Investor Meet Company platform on 20 November at 14:30 GMT. To register for the event, please follow this link: https://www.investormeetcompany.com/trifast-plc/register-investor
Notes:
1 Unless stated otherwise, amounts and comparisons with the prior period are calculated at constant currency (Constant Exchange Rate (CER)). Where reference is made to 'underlying' this is defined as being before separately disclosed items.
.2 Consensus forecasts for FY26 prior to this announcement were revenue of £214.0m, underlying EBIT of £16.1m, and underlying PBT of £11.6m.
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Further enquiries please contact: |
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Trifast plc |
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Iain Percival, CEO Kate Ferguson, CFO Christopher Morgan, Company Secretary |
Tel: +44 (0) 1825 747630 Email: corporate.enquiries@trifast.com Shareholders: Companysecretariat@trifast.com |
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Peel Hunt LLP (Stockbroker & financial adviser) |
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Mike Bell /Charlotte Sutcliffe |
Tel: +44 (0) 20 7418 8900 |
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Editor's notes
About Trifast plc
In 2023, TR celebrated 50 years of business with a proud heritage of serving customers with engineered fastening supply chain solutions. Specialising in the design, engineering, manufacture, and distribution of high-quality engineered fastenings and Category 'C' components principally for major global assembly industries. As an international business we can provide customer support from across key regions in the UK & Ireland, Asia, Europe, and North America. In addition to our service locations, we operate manufacturing facilities focused on high volume cold forged fasteners and special parts. We have also established Engineering & innovation centres to support R&D and customer collaboration across the world. The Group supplies to customers in c.65 countries across a wide range of industries, including Automotive, Smart Infrastructure and Medical Equipment. As a full-service provider to multinational OEMs and Tier 1 companies spanning several sectors, we deliver comprehensive support to our customers across every requirement, from concept design through to technical engineering consultancy, manufacturing, supply management and global logistics.
We have defined a clear purpose and vision:
To sustainably drive our customers' success by simplifying their fastener supply chain and supporting them in their technical requirements through our world-class engineering and manufacturing capabilities.
For more information, visit:
TRIFAST PLC TRI Stock | London Stock Exchange
website: www.trifast.com
LinkedIn: www.linkedin.com/company/tr-fastenings
Facebook: www.facebook.com/trfastenings
Note: Trifast, TR and TR Fastenings are registered trademarks of the Company.
LEI number: 213800WFIVE6RWK3CR22
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