Tricorn Group plc (TCN.L) reported that it expects second-half revenues to be marginally up on earlier guidance. The Group said overall cash inflow in the second half has been positive and is expected to result in a reduction in net debt from the half year position. Adjusted LBT is expected to be broadly in line with earlier guidance.
The Group said the restructuring within the Energy division was completed as planned. Within the Transportation division, the UK business is starting to see some benefit from new business that has been secured. The Aerospace division has seen a slight drop in revenues in the second half but set against a lower cost base, Tricorn said.
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