Half-year sales have risen by almost a quarter at tube manipulation firm Tricorn Group.
Malvern-based Tricorn (TCN) saw revenue increase 23 per cent, to £12.4 million, in the six months to September 30.
The improvement in fortunes also pushed up profits, with pre-tax profits rising from £449,000 in the first half of last year to £722,000.
Nick Paul CBE, chairman of Tricorn said: “I am delighted to report a further consecutive period of growth for Tricorn. The Group continues to benefit from its exposure to world markets, its key account management, ongoing investment and improving operational performance.
“We remain resolutely focused on delivering excellence to our customers and we are seeing this rewarded with closer and more collaborative relationships.”
The firm moved into a net cash position of £72,000 across the period, compared to a net debt of £551,000 at this time last year.
The company, which employs around 300 people, is a specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the energy and utilities, transportation and aerospace sectors.
