Shares up 20% as engineering group returns to profit
Worcestershire engineering group, Tricorn has announced full year results significantly ahead of expectations – helping to turn losses from the prior year into a major surplus.
The Malvern-based group, which manufactures pipe and tubing assemblies to the Energy and Transport sectors, said the performance owed much to the consolidation of its new Chinese manufacturing operation and contract wins from the United States.
Investors reacted positively, with shares up 20% in early trading to reach a three-year high.
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