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LONDON (Alliance News) - Tristel PLC said Monday that it its pretax profit and revenues for the year to the end of June will be ahead of its expectations, as it saw a strong performance in its second-half.
The biotechnology company said it expects a pretax profit of GBP1.8 million before share-based payments, up from GBP500,000 in the previous year, on revenues of GBP13.5 million, up from GBP10.6 million in the previous year.
Tristel said its net cash was GBP2.6 million as at June 30, up from GBP490,000.
"The Company ended its financial year in good shape. The improved performance achieved over the past twelve months relates to all areas of the Group and is expected to continue into the new financial year and beyond," said Chief Executive Paul Swinney in a statement.
Shares in Tristel were trading up 0.7% at 71.00 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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