Trinity confident as it achieves targets

TRINITY Holdings, which makes Dennis fire engines, buses and refuse trucks, achieved the targets it set at flotation in October in its maiden set of results.

The company made pounds 7.1m before tax in 1992, but on a pro forma basis, with the benefits of the flotation proceeds for the full year, the figure would have been pounds 8.2m.

Geoff Hollyhead, chairman and chief executive, said Trinity's growth was set to continue from existing businesses, export opportunities and acquisitions. 'Our order book, at pounds 70m, is twice what it was this time last year.'

Trinity won a pounds 37m contract to supply bus kits to Sri Lanka in November.

Dennis sold more buses in the UK last year than all its competitors combined, taking 55 per cent of the market.

'That is no mean achievement for a British bus company,' Mr Hollyhead said, pointing out that Dennis had just 15 per cent of the UK bus market four years ago.

He added that Trinity was now looking to export its successful formula to the rest of Europe, beginning in the Benelux countries. The group already has a small project under way in Poland.

Trinity pays a maiden dividend of 1.5p, which would give 5.4p on a full- year basis. Earnings per share were 10.7p. Trinity shares, which listed at 120p, closed yesterday unchanged at 188p.