Trinity shares drop 10% as Q1 profits fall
Sales were broadly unchanged from the first three months of 2003 at $16.4 million and 6% ahead of sales in the previous quarter. But the bottom line suffered from increased selling and administrative costs, which jumped by $1.7m to $5.7m.
Chief financial officer Rory Nealon said the fall in pre-tax profits had been expected and was explained by the decision to take on 40 new sales staff in America.
