Tristel infection technology could be useful in coronavirus control
Soaring revenues and profits sent the share price of bug-busting manufacturer Tristel plc almost 11 per cent (42.50p) higher to 437.50p on the UK’s AIM exchange.
The company additionally believes that its infection control technology could play a role in the fight against coronavirus.
Based near Newmarket, the business hoisted revenues 22 per cent to £14.6 million and profit before tax 25 per cent to £3m for the six months to December 31.
Tristel makes infection prevention and contamination control products utilising proprietary chlorine dioxide chemistry; the interims were ahead of guidance.
Overseas sales were 30 per cent ahead to £8.3m and represented 56 per cent of total sales.
Chief executive Paul Swinney said: “We are very pleased with our progress in the first half. Sales growth has been above our target range of 10-15 per cent and margins have also improved.
“Sales growth in our UK hospital division, which accounts for 86 per cent of all UK sales, was up by 16 per cent half-on-half. NHS stock building in preparation for a no deal Brexit did not influence these results.
“Two-thirds of the growth in UK hospital sales can be attributed to higher numbers of disinfection procedures across all the clinical areas we target, and one-third to product pricing.
“Moreover, overseas sales continued to increase at a very healthy rate of 30 per cent. This growth was largely attributable to the establishment (through acquisition) of direct operations in Belgium, Netherlands, France and Italy.
“We continue to advance our US regulatory project and have received further helpful guidance from the FDA to enable us to progress the compilation of our submission dossier.”
Swinney also believes that if health specialists cannot halt the rising tide of coronavirus cases, its “globally recognised infection prevention brand, with some of the world’s best-known disinfection technology highlight significant macro factors that will support Tristel’s continued progress.”