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LONDON (Alliance News) - Infection protection, contamination control and hygiene products manufacturer Tristel PLC on Wednesday hiked its interim dividend as its said pretax profit and revenue both rose in the first half of its financial year.
The company said pretax profit was GBP1.5 million in the six months to the end of December, up 36% from the GBP1.1 million it posted a year earlier. Revenue rose to GBP8.0 million from GBP7.4 million.
Tristel said it continues to invest in the business but is focusing on its margins and cost control across the business. It also said it has selected two of its products to lead a push into the US market and is currently in talks with the US Food & Drug Administration, the US regulator, to submit plans for full regulatory approval during 2016.
Tristel said it will push its interim dividend up to 1.14 pence per share, nearly double the 0.585p it paid out a year earlier.
"We are pleased to report strong half-on-half profits growth, which has translated into an increase in cash and a substantial increase in the interim dividend," said Paul Swinney, Tristel's chief executive.
Shares in the company were down 12% to 128.50p in early trade.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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