Annual Report 2013
Thinking locally, operating globally
Over the past three years, our teams have focused on 'working smarter' in relation to suppliers, customers, buy/sell margin and non value-add costs and resources, latterly employing the Pareto (80/20) principle e.g. 80% of our profit coming from only 20% of our customers – so making sure that we don't become 'busy fools'!
"The Board would like to thank our colleagues from around the Group who have contributed to this publication"
"The global market for fasteners is vast and remains fragmented; there is an opportunity for smaller more flexible players like ourselves to be strategic consolidators"
“Our highly effective sales and marketing teams continue to open up new customer, revenue and product opportunities”
“From small beginnings, TR has grown into an international business, delivering to its customers through a first class service, quality product at competitive prices”
“We have excellent skilled people and we should incentivise and reward them based on their performance”
“The Directors’ focus remains on capital growth through investment in the business and increasing ROCE. The return to a progressive dividend stream has also been a priority for the Board since its formation in 2009”
"TR Asia has improved overall profitability through a combination of new business wins, integration of PSEP and healthier demand from existing customers"
"Diversifying beyond the electronics and appliances sectors into the automotive assemblers is providing a stable and forward revenue stream"
"A high proportion of TR's globally sited multinationals are headquartered in the USA, making TR Inc. strategic to our future plans"
"This year we have required different approaches and skills to develop further with the major multinational OEMs that we supply, and extend it to the rest of the customer base as required"