Annual sales and profits at Newmarket-based Tristel set to top forecasts

Tristel's headquarters at Snailwell.
Picture: Gregg Brown

Tristel's headquarters at Snailwell. Picture: Gregg Brown - Credit: Gregg Brown

Full-year revenues and profits at East Anglia-based infection prevention products manufacturer Tristel will come in ahead of previous market expectations, the company said today.

Full-year revenues and profits at East Anglia-based infection prevention products manufacturer Tristel will come in ahead of previous market expectations, the company said today.

In a final trading update ahead of its results for the year to June 30, Tristel said turnover would reach a new record of more than £20m, compared with £17.1m for the previous 12 months, with a pre-tax profit of at least £4m, against £3.3m a year ago.

The company, based at Snailwell, near Newmarket, said growth during the second half of the year had continued to benefit from strong export sales, with overseas markets accounting for 50% of group revenue compared with 43% during the first half, resulting in a record annual figure of 47%.

It added that it continued to generate “significant levels” of cash – with balances totalling £5.1m at the year-end compared with £5.7m at the start, despite significant investment – and remained debt-free.

During the year, Tristel said it spent £950,000 on the acquisition of its Australian distributor, invested US$750,000 in Mobile ODT, a business combining smartphone technology with hand-held medical devices for point-of-care diagnostics, and distributed an aggregate £2.8m in dividends.

It also incurred costs of £500,000 in association with its planned entry into the North American market entry, which earlier this month resulted in its first submission to the United States Environmental Protection Agency.

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Tristel chairman Francisco Soler said: “The company enjoyed a very strong second half with overseas sales continuing to drive progress.”

The Australian acquisition had made a “significant” contribution to this growth and was regarded by the board as having been a success.

He added: “We are pleased that overseas sales in the year represented almost half of the total and we anticipate that our overseas operations will continue to expand.”

Tristel is due to announce its annual results on October 19, when it will also declare a final dividend for the year.