Trifast – Interims due shortly will show ‘in-line’ while the shares, now at 83.20p, could soon break towards the 100p mark
Mark Watson-Mitchell – 02.11.2026
“A global leader in attractive markets:focused on its future”
In three weeks, Tuesday 17th November, Trifast (LON:TRI) the £114m-capitalised international specialist in the design, engineering, manufacture, and distribution of high-quality engineered fastenings, will declare its Interim Results to end-September.
Over the last year, the Group’s shares have ranged in price from 59.40p to 92.60p, they are now treading water at around the 83.20p level, from which I look for an early upward push to 100p or thereabouts.
The Business
The Walsall-based Group is a global leader in the design, engineering, manufacture and supply of fastenings and Category ‘C’ components.
Supplying major assembly industries, it delivers innovative solutions that enhance efficiency and performance.
The Group supplies to customers in some 65 countries across a range of industries, including automotive, medical equipment and smart infrastructure.
As a full-service provider to multinational OEMs and Tier-1 companies, it delivers comprehensive support to its customers across every requirement, from concept design through to technical engineering consultancy, manufacturing, supply chain management and global logistics.
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As an international business, it is capable of providing customer support from across key regions in the UK & Ireland, Asia, Europe and North America.
In addition to its service locations, it operates a number of manufacturing facilities focused on high-volume cold-forged fasteners and special parts.
It has also established Engineering & Innovation Centres to support R&D and customer collaboration across the world.
Recent Trading Update
On Tuesday 20th October the Group announced that trading for the six months to end-September was in line with market expectations, with revenue declining by approximately 4.2% year-on-year, a moderation from the previous period.
Gross margin remained stable at 28.7%, while underlying EBIT margin improved by 80 basis points to 7.4% due to operational efficiencies.
The Company maintains a robust balance sheet with leverage below 1x and is investing £4.6m in a new distribution platform in Mexico, expected to be operational in FY28, and has opened a new distribution centre in Chennai.
Trifast remains confident in delivering further margin improvement in the second half of FY27, targeting double-digit EBIT margins.
The Equity
There are some 136.19m shares in issue.
The larger holders include Slater Investments Ltd. (11.04%), Harwood Capital LLP (9.73%), Schroder Investment Management Ltd. (8.80%), Huntington Management LLC (8.07%), Ruffer LLP (7.71%), Threadneedle Asset Management Ltd. (2.99%), Gates Foundation Trust (Investment Management) (2.47%), Hargreaves Lansdown Asset Management Ltd (1.86%), Canaccord Genuity Wealth Ltd. (1.60%), and Columbia Threadneedle Management Ltd (1.40%).
Broker Views
Five brokers closely follow the Group, each rating the shares as a Buy.
The Average Target Price is 123p, the Lowest 104p, and the Highest at 140p.
Berenberg Bank rate Buy with a 140p TP, whilst Singer Capital Markets has a 120p TP.
For the current year to end-March 2027, the analyst consensus average looks for revenues of £213.0m (£208.4m), adjusted pre-tax profits of £14.3m (£12.3m), with earnings of 8.05p (6.46p) and paying a dividend of 2.13p (1.90p) per share.
For 2028, the estimates are for £219.0m sales, £18.0m profits, 10.0p earnings and a 2.82p per share dividend.
Going further ahead, the estimates for 2029 are for £229.2m turnover, £19.6m profits, 10.90p earnings and a 3.12p dividend.
My View
Now on just 10.3 times current-year earnings and a mere 8.3 times prospective, these shares, now at 83.20p, are heading a lot higher.
The Interims due shortly could boost that process.
(Profile 02.11.2026 @ 83.20p set a Target Price of 100p)
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