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(Sharecast News) - Infection and contamination control specialist Tristel on Wednesday reported a rise in annual profits driven by higher overseas sales.
Pre-tax profits increased 18% to £4.7m for the year ended 30 June, as revenue climbed from by 18% to £26.2m. The AIM-traded company declared a final dividend of 3.50 pence per share, making a total of 5.54p, 21% higher than in 2018.
Overseas sales rose by 26% to £14.4m after Tristel acquired distributors in Belgium, the Netherlands and France in November 2018. The company said it expected further international growth after buying an Italian distributor shortly after the year-end. UK sales achieve 9% growth, up from a 2% the year before.
Chairman Paul Barnes said: "I believe that the group has successfully navigated its way through a year in which Brexit was anticipated to take place, an event which posed significant challenges, particularly in terms of manufacture. Brexit is yet to occur and has been pushed back, and we expect the challenges it brings to repeat this financial year."
"However, I believe the group is well-placed to weather this and any economic downturn that may follow."
Tristel shares were up by 1.94% at 299.20p at 1000 BST.
11 Mar 2016 11:42