Tristel sees full-year results in line, 'strong' growth across business
Tristel, which manufactures infection prevention products, said on Friday that results for the year to 30 June will be in line with expectations, with strong growth across the business.
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The AIM-listed company expects to report record turnover of £22.2m versus £20.3m in the same period a year ago and pre-tax profit of at least £4.4m compared to £4.1m.
The group said revenue from overseas markets contributed 51.3% of the group total, which marks a record level. In addition, it continued to generate significant levels of cash and at 30 June, cash balances were £6.7m, up from £5.1m the year before, with no debt.
Also on Friday, chairman Francisco Soler announced his retirement, saying he will step down as chair and director at the company's AGM in December.
"Tristel continues to develop and expand as shown by another year of turnover and profit growth. 2018 marks Tristel's twenty-fifth anniversary. It has taken a long time for the Company to emerge as the globally recognised force in infection prevention it is today," Soler said.
"In October 2014 I re-took the helm as chairman, not expecting to still hold the reins nearly four years later. I have stayed in post longer than intended, but in so doing have played my part in guiding Tristel through a truly transformational period. The board and management's vision for the company today is very different from our view in 2014."
FinnCap said revenue was in line with its forecast while year-end cash was £0.6m higher than it expected.
At 1450 BST, the shares were down 5.5% to 302.55p.