Tube manipulation firm Tricorn Group has revealed a huge surge in profits as the firm bounces back from a tough year.
Malvern-based Tricorn (TCN) has seen pre-tax profits in the six months to September 30 rise to £449,000, compared to £105,000 in the same period last year.
The increase came on the back of a significant rise in sales, from £7 million in the first half of last year to £10.1 million this year.
Chairman Nick Paul said: “We are emerging from the contraction experienced in our key markets as a leaner more resilient business and I am pleased to report an encouraging start to the financial year.
“Increasing customer confidence has inevitably led to an element of restocking through the first half but we anticipate underlying demand levels to remain firm through the balance of the year. The Board is confident that full year results will be ahead of market expectations.”
