Trifast, the East Sussex-based manufacturer of mechanical fasteners, has reported strong growth in both revenues and pre-tax profits for the year ended 31 March.

The company, which has its headquarters in Uckfield, said that the “impressive results are stronger than originally expected”, adding that they reflect the “operational improvements implemented by the management over recent years”,
together with an “upturn in confidence”.

Executive chairman Malcolm Diamond said: “I am delighted to confirm another year of outstanding performance that firmly consolidates our transition from what was once considered a recovery situation to one of delivering consistent improvement and growth.

“This presents shareholders with the double attraction of good potential capital growth and a progressive dividend policy that is now delivering a positive track record.”

Trifast has also announced the appointment of a new chief executive and a new head of finance.

The current chief executive, Jim Barker, will step down on 30 September but will remain available to the group in a consultancy role until 30 June of next year.

He will be succeeded by Mark Belton, the current group finance director. Meanwhile, group financial controller Clare Foster will be promoted to chief financial officer.