Newmarket-based Tristel on course for increased first half sales and profits
- Credit: Gregg Brown
Tristel, the East Anglia-based manufacturer of infection prevention, contamination control and hygiene products, said today it remained on track to report increased first half sales and profits.
In a trading update issued ahead of its annual general meeting, taking place today at its headquarters in Snailwell, near Newmarket, Tristel said the strong trading highlighted when it announced its full-year results for 2013-14 had continued.
Chief executive Paul Swinney said: “In relation to the six months ending December 31, 2014, unaudited revenues are expected to be in excess of £7million, which is at least 9% ahead of the same period last year.
“We expect unaudited pre-tax profit to be no less than £1m for the period, compared to pre-tax profit of £700,000 for the same period last year and £1.8m for the full year ended June 30, 2014.
“Growth continues to come from all areas of the business, both within the UK and overseas,” he added.
Investment research specialist Equity Development maintained its forecasts for Tristel’s full-year sales and earnings, but noted a possible upside for earnings if second half revenues matched expectations and lifted its target price for the company’s shares from 92p to 100p.
Broker finnCap made no changes either to its forecasts or its 85p target price, but also noted that the risks to both remained on the upside.
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Tristel’s interim results for the first half are due to be announced on Wednesday, February 25, 2015.