(Alliance News) - Tristel PLC on Monday posted a surge in annual profit and said its outlook was the strongest it has been in its 30-year history.
The infection prevention product manufacturer reported pretax profit of GBP5.1 million in the financial year the ended June 30, multiplied from GBP1.6 million the year before, as revenue hit GBP36.0 million, up 16% from GBP31.1 million.
The Cambridgeshire, England-based company also recorded a sharp drop in depreciation, amortisation and impairment costs, which were halved to GBP2.6 million from GBP5.2 million.
Tristel said it benefitted as the negative impact of both Brexit and Covid-19 receded in the financial year, allowing it to resume top and bottom-line growth in line with its pre-pandemic trajectory.
Chief Executive Paul Swinney said the "achievement of the year" was the US Food & Drug Administration's approval of Tristel ULT as a high-level disinfectant for ultrasound probes as it allowed the company to enter the "largest healthcare market in the world".
"We have commenced manufacture and have shipped product to our first customers in the USA. The outlook for the company is the strongest it has been in its 30-year history," Swinney added.
Shares in Tristel were up 5.5% at 416.80 pence on Monday morning in London.
By Heather Rydings, Alliance News senior economics reporter
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Tristel (TSTL)