Tricorn Group plc

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Tricorn Group plc
Steve Cooper-Chief Executive Mike Welburn-Sales
Director
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• Preliminary Results Presentation

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Results Overview-Highlights

• Excellent progress on all fronts
• PBT 616k ( 191k 2005)
• Strong cash generation 852k
• Continued cost reduction
• Further improvement in productivity
• Group well positioned for further expansion

Excluding goodwill amortisation
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Results Overview

• Before goodwill amortisation
• Before disposal of operation

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Strong Cash Generation
Excluding loan repayment and proceeds from sale
of business
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Business Review

• Redman Fittings
• Innovative pipe jointing system
• Issquared
• Small team focussed on product development
  opportunities within the water sector
• MTC
• Tube manipulation specialist with blue chip OEM
  customer base.

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• Redman
• Moved to profit in H2
• Focus on OEMs complete
• AMP 3 to AMP4 resulted in softer market-now
  recovering
• Issquared
• Development contract complete
• Above businesses combined at end of March 2006

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• Largest of the businesses
• Blue chip customer base
• Cummins, CAT, Perkins, F G Wilson
• Key end market is power generation
• Generator sets
• Diesel engines
• Radiators

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Sales

• Further market share gain
• Existing customers
• New customers
• Markets remains strong and stable
• China
• North America

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Operations

• Further 15 productivity improvement
• China operation working well
• increased scope for resourcing
• Quality further improved-Customer returns halved
  on previous year (half of a tiny amount!!)
• On time delivery performance maintained

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Outlook

• Power generation sector remains strong and stable
  
• Further organic growth anticipated
• Additional scope for low cost sourcing
• Lean manufacturing will continue to deliver
  benefits
• Outlook positive

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Acquisition
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• Exchange of Contracts Robert Morton Holdings
  6/6/06
• Now RMDG Aerospace ( was
  Tecalemit Aerospace UK)
• Cash consideration 1.6m
• Sales (Dec 05) 4.6m
• PBT 4k
• Net assets 1.6m
• Employees 64

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Products
Manipulated tubular assemblies 1.5-50mm Extensive
in house testing capabilities including radiograph
Manipulated tubular assemblies 20mm-250mm
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Applications
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Market

• Aerospace focus
• Good growth
• Significant barriers to entry
• Blue chip customer base
• Rolls Royce, Shorts Bombardier, Nord-Micro, Eaton
  Aerospace

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Group Focus
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Outlook

• The type of business we understand well
• Growing market
• Scope for productivity improvement
• Material resourcing opportunities

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Acquisition

• In summary
• Techniques deployed successfully
  at MTC will be used at RMDG