LONDON (ShareCast) - (Sharecast News) - AIM-listed Trifast reported "solid" revenue growth in the first five months of the year across all regions, although UK margins were still squeezed due to the Brexit-induced slump in the pound.
The industrial fastenings maker said international demand remained "reassuring" across both Asia and Europe.

"Although relatively small, our US region is growing exceptionally well this year from a mix of increasing electronics and automotive sales," the company said in a trading statement.

It added that it believed the operational and financial impact of any Brexit scenario would be manageable.

"We have had a cross-functional Brexit team in place for the last two years and are fully on track to carry out our contingency plans to help mitigate the risks attached to a potential no-deal Brexit scenario," Trifast said.

"We are also closely monitoring the escalating trade tensions between the USA, Europe and China. Although due to our diversified supply chain structure, to date we do not expect the impact of this to be material to the group."

"As previously guided, the current solid revenue growth is not yet being reflected in our underlying operating margins as we continue to invest for the future."

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