Malvern-based manufacturing group Tricorn, which develops and manufactures pipe solutions, achieved profits of £1.1 million, as revenues increased slightly (to £22.8 million) in the year to March.

Chairman Andrew Moss (www.tricorn.uk.com) said: “These results reflect our focus on growth and our continuing investment in our global operations.

"Our Transportation division delivered strong revenue growth coupled with improved margins, and there was an increased contribution from our joint venture in China.

"The recently announced expansion of our capabilities in the USA allows us to bring in-house previously sub-contracted painting processes; it also addresses our plans to broaden our product offering in this key market.”