First half profits at Tristel climb by more than half

Paul Swinney, chief executive, and Liz Dixon, finance director, at Tristel's headquarters at Snailwe

Paul Swinney, chief executive, and Liz Dixon, finance director, at Tristel's headquarters at Snailwell. - Credit: Gregg Brown

First half profits at infection prevention and contamination control products company Tristel have more than doubled amid strong sales growth in the UK and overseas.

Tristel, which is based at Snailwell, near Newmarket, yesterday posted a pre-tax profit of £1.1million for the six months to December 31 compared with £700,000 for the same period a year earlier, an increase of 57%.

Revenues were 15% higher, at £7.4m against £6.4m at last year’s half-way stage, including growth of 26% in international sales.

Products based on the company’s patented chemistry are supplied three key markets – infection prevention in hospitals (under its flagship Tristel brand), contamination contral in critical environments such as laboratories (through the Crystel brand) and infection prevention in veterinary practices (with the Anistel range).

Growth was achieve in all three markets during the first half, both in the UK and overseas, maintaining the company’s record of having achieved record sales overall in each six month period since December 2012.

Chief executive Paul Swinney said: “Tristel has enjoyed another strong performance during the first half. Encouragingly, this has come from all areas of the business, both in the UK and overseas.

“Our operations in Germany, China and Hong Kong, and Australasia, where we have our own people on the ground, are developing particularly well.

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“The balance sheet and cash flow are very sound and we are well placed to continue the growth of our business.”

Finance director Liz Dixon said that the £1m increase in revenue had been evenly split between the UK and overseas markets, with Tristel very much remaining a UK business at present while also having ambitious plans for further overseas growth.

If the current rate of sales progress was maintained, the company would have the resources to invest in targeting new markets, including the United States, while still achieving its goal of a 15% net margin, she added.

The interim dividend will increase by 63%, from 0.36p to 0.585p per share, with Tristel maintaining its policy of paying 25% of the total after the half year stage and 75% after the year-end.

Tristel has a total workforce of 98 including 65 at Snailwell and a further 16 located around the UK.