Trifast (TRI) H2 2026 TU earnings summary

Executive summary

• FY26 underlying EBIT expected at approximately £16.0m, aligning with market expectations, despite a 7% year-on-year revenue decline to around £207.0m.

• Margin improvement achieved through strategic initiatives and operational efficiencies, even amid subdued demand and geopolitical challenges.

• Closure of Malaysian manufacturing operations to optimize footprint and redeploy resources to higher growth regions like China and India.

Financial highlights

• FY26 revenue declined by about 7% year-over-year to £207.0m, mainly due to lower volumes and exit of low-margin customers.

• Underlying EBIT for FY26 expected at £16.0m, in line with consensus forecasts.

• Gross profit margin improved by approximately 150bps to 30%.

• EBIT margin increased to 7.8% from 6.7% in FY25.

Outlook and guidance

• Targeting EBIT margins above 10% in the medium term, supported by ongoing strategic initiatives.

• FY27 revenue expected to be reduced by approximately £8.0m due to the Malaysian closure and Middle East conflicts.

• Strongest commercial pipeline in two years, with customers prioritizing quality and reliability.