Trifast has again delivered results in-line/slightly ahead of our top-of-therange forecasts. Adj. PBT of £16.0m (vs Stockdale £15.9m) was up 11.8% on revenue up 4.3% to £161.4m (£162.0m), driven by a particularly strong trading performance in Europe. The full-year dividend is up 33% to 2.8p (2.4p) and is a clear sign of management’s confidence. We maintain our future forecasts and our 185p target price. Given the ability to continue to deliver profit growth (both
