(Alliance News) - Tristel PLC on Monday posted a special dividend as it expects its annual profit and revenue to meet expectations, boosted by hospitals buying more disinfectants as more procedures are carried out.
Tristel's shares were 11% higher at 380.00 pence each in London on Monday morning.
For its financial year ended June 30, adjusted pretax profit is set to rise 18% to GBP4.5 million from GBP3.8 million the year before, with revenue falling 8.4% to GBP28.4 million from GBP31.0 million.
The firm declares a special dividend of 3.0 pence per share, which puts the final dividend to 3.93p.
"During the year 15.7 million disinfection events took place with a Tristel medical device disinfectant, which is 31% higher than in the year ended June 30, 2019, before the pandemic struck," explained Chief Executive Officer Paul Swinney.
Tristel is a Cambridgeshire-based maker of infection prevention, contamination control and hygiene products.
"Across all our geographical markets, the number of patient procedures carried out by hospitals picked up in the second half. This fed directly through to a higher number of disinfection procedures and an upturn in our second half revenue as expected. Sales of the company's surface disinfectants also increased in the second half as hospitals searched out the highest performing disinfection products as a legacy of the pandemic," Tristel said.
"We are emerging from the disruption caused by Brexit and the pandemic with a highly focussed business, the prospect of entering the largest single healthcare market in the world, with an exciting pipeline of new product innovations, and a strong balance sheet. The outlook for Tristel is positive," said CEO Swinney.
The company will release its full-year results in October.
By Tom Budszus; tombudszus@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Tristel (TSTL)