Tristel profits rise as international revenues grow
Infection prevention products manufacturer Tristel expects to report full-year trading in line with market expectations, with both pre-tax profits and turnover increasing year-on-year.
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Tristel expects to report turnover of £26m for the year ended 30 June, up from the £22.2m recorded in the prior year, while pre-tax profits are expected to be no less than £5.5m , ahead of the £4.7m recorded a year earlier.
The AIM-listed group said on Monday that revenues from overseas markets had increased by 26% during the year and contributed 55% of total revenues - a record level. Revenue in the UK rose 9%.
Tristel also said it had continued to generate "significant" levels of cash and at 30 June cash balances were £4.2m, down from £6.7m a year earlier after satisfying the cash element of its acquisition of three distributors in Western Europe.
Chief executive Paul Swinney said: "We are very pleased with the performance of the company during the year.
"The balance of our business continues not only to shift towards our higher-growth overseas markets, but also towards our higher-margin chlorine dioxide technology."
Tristel also said it has acquired an 80% share in Tristel Italia for €661,000, with an additional cash consideration of €150,000 to be paid over the next two years if sales reach €926,000 in the year ending 30 June 2021.
As of 1040 BST, Tristel shares had dipped 0.63% to 298.11p.