June 11, 2019 / 8:04 AM / 2 months ago

BUZZ-Trifast: Drops after revenue, profit miss

** Industrial fastener maker Trifast Plc’s shares down 3.8% at 226p

** Revenue, profit miss estimates as “dieselgate” hit UK automotive manufacturing volumes driven by a global drop in demand for diesel engines

** At constant exchange ratio, TRFT reported FY revenue of 209.1 mln pounds ($265.43 mln) and underlying pre-tax profit of 23.6 mln pounds

** Analysts expected rev of 217.25 mln pounds and profit of 24.13 mln pounds

** Co points out to challenging macroeconomic conditions but kept expectations for the coming year unchanged

** YTD, stock has gained ~20% ($1 = 0.7878 pounds) (Reporting by Shariq Khan in Bengaluru)

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