Industrial fastenings manufacturer Trifast (LSE:TRI) has enjoyed a fabulous five years, its share price leaping 325% over that time. Momentum has slowed in recent months, but it is still up almost 14% over the past year. The stock has climbed another 2.44% today at time of writing following publication this morning of its unaudited Q3 trading update. Investors look happy with what they have read.
The FTSE 100 gained 0.5% to 7,248.57 on Thursday morning following advances made on markets in Asia and the US overnight.
Oxford BioMedica (OXB) was top of the leader board, gaining 9% to 11.7p after it announced a major collaboration and licence agreement with Bioveratic for the development and manufacturing of lentiviral vectors to treat haemophilia.
Trifast, which produces industrial fastenings to major global assembly industries, said it is confident that it will deliver its expectations for the year ending 31 March 2018.
The company said its balance sheet remains strong and its US operation continues to recover following the impact of Hurricane Harvey.
"The consistent levels of progress over recent years, coupled with our future growth and significant investment plans future proof the business and ensure TR can meet the demands of its multinational OEM customers therein turn, building long term shareholder value," it said.
McColl's Retail Group (LSE:MCLS) has found itself on the back foot on Monday following the release of full-year trading numbers.It was last 7% lower on the day.
At face value, the latest update from McColl's could be viewed as pretty impressive. The convenience store colossus saw total annual revenues burst through the £1bn milestone for the first time, it advised today (these jumped 19.1% during the 12 months to November 2017).
The revenues surge was thanks in no small part to the 298 outlets McColl's snapped up from The Co-Operative Group in the summer.
A strong set of interim results has led us to upgrade our EPS forecasts for FY18 by 5.0% and FY19 by 2.5%. Other than a weather-related hiccup in the smaller US activity, there was good like-for-like progress in Europe, Asia and the UK. Input cost pressures at the gross profit level were mitigated by strong overhead control. Investment for growth continues across all regions and the strong balance sheet should facilitate M&A as appropriate opportunities arise with management taking a more proactive approach in target identification. Trifast’s shares have been very strong in the run-up to the results and are rated more appropriately, in our view, with the P/E discount to peers substantially diminished.
CEO Mark Belton on strategy and performance joined by Chris Black discussing the opportunities in the automotive sector, and Keith Gibb on the advantages of 3D technical engineering to TR and it’s customers.