Medical Equipment and Services (4530)

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Tristel profits rise as international revenues grow

By Iain Gilbert

Date: Monday 22 Jul 2019

LONDON (ShareCast) - (Sharecast News) - 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.
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.

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