Tristel posts UK and export growth in strong first half
Tristel plc, the Newmarket company whose various high technology products prevent infection and controls contamination, has boosted revenues on the back of a UK bounceback and continuing export success in the six months to December 31.
Revenue was 12 per cent higher at £12 million with overseas sales up 19 per cent to £6.4m, representing 53 per cent of total sales.
Pre-tax profit before share-based payments was up 20 per cent to £2.4m and the board issued an Interim dividend of 2.04p per share which was up 28 per cent.
Tristel ended the period with cash of £4.5m (2017: £4.9m), after £2.96m was paid in November for the Ecomed companies.
Physical expansion saw Tristel establish a warehouse hub in Antwerp and lease a new 23,000 sq ft warehouse in Newmarket.
Chief executive Paul Swinney said: “We are very pleased with our progress in the first half. Sales growth has been in the middle of our target range.
“Sales growth in the UK human health division, which accounts for 84 per cent of all UK sales, was up by eight per cent half-on-half. This is encouraging given that UK sales growth has been relatively flat for the past few years. Moreover, overseas sales continued to grow at a very healthy rate of 19 per cent.
“We continue to advance our USA regulatory project although the exact timing of further approvals remains hard to predict. We have put in place the best plans that we think possible to mitigate the potential effects of a no-deal Brexit and look forward with a high degree of confidence.”