TRIFAST has shrugged off the problems of the strong pound and the Asian crisis.

The Uckfield-based industrial fastenings group reported pre-tax profits for the half-year to September 30 up 14 per cent to £4.62 million.

Turnover rose by 16 per cent to £43.69 million. During the six months the groupinvested just over £6 million in three acquisitions. Chief Executive Malcolm Diamond said the group's aggressive growth rate performance had been maintained against a backdrop of increasingly negative UK and Asian business confidence. He said: "We have deliberately embarked on a twin policy of combining new investments for revenue creation along with a far tougherfocus on the effectiveness and accountability of senior and middle management." A"substantial" contract with Black and Decker in the North East has accounted for the largest initial stock investment ever made by the group. Mr Diamond added: "The second half-year has started well and, at this point, we have seen no downturn in our business. Clearly we, like most companies, will not be immune from the effects of recession should it occur."

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