Less Ads, More Data, More Tools Register for FREE

Tristel "Pleased" With Interim Progress As Profit Rises By Quarter

Mon, 24th Feb 2020 10:51

(Alliance News) - Tristel PLC on Monday hiked its payout as its performance improved in the first half of its current financial year.

The manufacturer of infection prevention and contamination control products reported pretax profit of GBP2.8 million for the six months to the end of 2019, up 25% compared to GBP2.2 million a year earlier, as revenue grew by 22% to GBP14.6 million from GBP12.0 million.

"We are very pleased with our progress in the first half. Sales growth has been above our target range of 10-15% and margins have improved also," said Chief Executive Paul Swinney.

Tristel said the pace of overseas sales growth accelerated to 30% from 19% last year, fuelled by a full six months contribution from the company's three subsidiaries in Belgium, Netherlands and France, which were all acquired in November 2018, and Italian unit, which was acquired in July 2019.

Stripping out the contribution of these acquisitions, underlying overseas sales growth would have been 13%.

Tristel said it has achieved a one percentage point increase in gross margin to 79% due to the elimination of third-party warehouse and transportation costs, with the opening of the company's second warehouse facility in Newmarket, England.

The Cambridge, England-based company declared an interim dividend of 2.34 pence a share, up 15% from 2.04p paid the year before.

Looking ahead, Swinney added: "We are currently experiencing Covid-19. This viral outbreak, together with the ever-present threat of anti-microbial resistance, will be a powerful influence on global healthcare systems for greater investment in infection prevention and control. As a globally recognised infection prevention brand, with some of the world's best-known disinfection technology, there are significant macro factors that will support Tristel's continued progress."

AIM-listed Tristel shares were trading 7.0% higher in London on Monday at 422.50 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

Related Shares

More News
11 Jun 2024 21:52

IN BRIEF: Tristel CEO Swinney and CFO Dixon offload shares

Tristel PLC - England-based maker of infection prevention products - Chief Executive Officer Paul Swinney sells 57,849 shares at average 440.8 pence p...

10 Jun 2024 09:17

Tristel hires former Lidco CEO to replace founder Paul Swinney at helm

(Alliance News) - Tristel PLC on Monday announced the appointment of Matthew Sassone as chief executive officer, effective from September 2.

7 May 2024 09:51

LONDON BROKER RATINGS: AstraZeneca target raised; Antofagasta lowered

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Friday:

18 Apr 2024 12:42

IN BRIEF: Tristel CEO Paul Swinney sells GBP230,000 in shares

Tristel PLC - Newmarket, England-based maker of infection prevention products - Chief Executive Officer Paul Swinney sells 50,000 shares at 462 pence,...

5 Apr 2024 13:52

UK dividends calendar - next 7 days

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.