Tricorn Group: challenging market conditions but lots of potential here
Tricorn Group, the AIM listed tube manipulation specialist, issued a pre-close trading update following completion of its half year to 30th September 2009.
Much as anticipated market conditions have been extremely challenging and sales for the first half are expected to be around 40% down on the previous year (6 months to 30th Sept 2008, sales £12.1m). Despite this, the Group has remained profitable with EBITDA for the period in line with market expectations for the year.
On a positive note the Group continues to operate comfortably within its banking covenants. Management also reports that markets now appear…
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