1 / 19

Tricorn Group plc

Tricorn Group plc. Steve Cooper-Chief Executive Mike Welburn-Sales Director. Preliminary Results Presentation. Results Overview-Highlights. Excellent progress on all fronts PBT* £616k ( £191k 2005) Strong cash generation £852k Continued cost reduction Further improvement in productivity

Download Presentation

Tricorn Group plc

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Tricorn Group plc Steve Cooper-Chief Executive Mike Welburn-Sales Director

  2. Preliminary Results Presentation

  3. Results Overview-Highlights • Excellent progress on all fronts • PBT* £616k ( £191k 2005) • Strong cash generation £852k • Continued cost reduction • Further improvement in productivity • Group well positioned for further expansion * Excluding goodwill amortisation

  4. Results Overview • *Before goodwill amortisation • **Before disposal of operation

  5. Strong Cash Generation * Excluding loan repayment and proceeds from sale of business

  6. Business Review • Redman Fittings • Innovative pipe jointing system • Issquared • Small team focussed on product development opportunities within the water sector • MTC • Tube manipulation specialist with blue chip OEM customer base.

  7. Redman • Moved to profit in H2 • Focus on OEM’s complete • AMP 3 to AMP4 resulted in softer market-now recovering • Issquared • Development contract complete Above businesses combined at end of March 2006

  8. Largest of the businesses • Blue chip customer base • Cummins, CAT, Perkins, F G Wilson • Key end market is power generation • Generator sets • Diesel engines • Radiators

  9. Sales • Further market share gain • Existing customers • New customers • Markets remains strong and stable • China • North America

  10. Operations • Further 15 % productivity improvement • China operation working well • increased scope for resourcing • Quality further improved-Customer returns halved on previous year (half of a tiny amount!!) • On time delivery performance maintained

  11. Outlook • Power generation sector remains strong and stable • Further organic growth anticipated • Additional scope for low cost sourcing • Lean manufacturing will continue to deliver benefits • Outlook positive

  12. Acquisition

  13. Exchange of Contracts Robert Morton Holdings 6/6/06 • Now RMDG Aerospace ( was Tecalemit Aerospace UK) • Cash consideration £1.6m • Sales (Dec 05) £4.6m • PBT £4k • Net assets £1.6m • Employees 64

  14. Products Manipulated tubular assemblies 1.5-50mm Extensive in house testing capabilities including radiograph Manipulated tubular assemblies 20mm-250mm

  15. Applications

  16. Market • Aerospace focus • Good growth • Significant barriers to entry • Blue chip customer base • Rolls Royce, Shorts Bombardier, Nord-Micro, Eaton Aerospace

  17. Group Focus

  18. Outlook • The type of business we understand well • Growing market • Scope for productivity improvement • Material resourcing opportunities

  19. In summary Techniques deployed successfully at MTC will be used at RMDG Acquisition

More Related