Profits up 31.6pc for Tricorn
Tube manufacturing group Tricorn saw pre-tax profits and sales both rise in its last financial year.
The Malvern-based business, which includes automotive factory Maxpower in West Bromwich, enjoyed a 31.6% rise in profits to £1.08 million in the 12 months to the end of March with revenue up 2.6% to £22.8m.
It said the West Bromwich facility made excellent progress on all fronts.
Chairman Andrew Moss said earnings per share increased by 14% to 3.02p.
"These results reflect our focus on growth and our continuing investment in our global operations.
"Our tansportation division delivered strong revenue growth coupled with improved margins. The increased contribution from our joint venture in China resulted from strong operational performance.
"We are excited by the recently announced expansion of our capabilities in the USA. This allows us to bring in-house previously sub-contracted painting processes and also addresses our plans to broaden our product offering in this key market."
