Trifast has given a reassuring Q3 trading update, confirming management’s confidence in meeting expectations for FY16 despite an unsettled industrial backdrop. Its markets remain strong apart from some softening in the UK, it continues to win more business from multinational customers and the order pipeline is described as encouraging. We do not anticipate changing our forecasts, which show EPS growth of c.7% pa over the next three years along with undemanding valuation multiples of 7.4x EV/EBIT ....
