Newmarket-based Tristel on track for growth in first half profit
- Credit: Gregg Brown
Infection prevention, contamination control and hygiene products manufacturer Tristel today signalled that it is on course for a sixth successive period of year-on-year profit growth.
Tristel, based at Snailwell, near Newmarket, said that profits for the first half of the current year, covering the six months to the end of December, would be up by more than a quarter compared with the same period a year ago.
In a trading update, released ahead of the company’s annual general meeting, Tristel chief executive Paul Swinney said: “This is the sixth consecutive reporting period in which we will have achieved year-on-year profit growth.
“We expect unaudited pre-tax profit for the first half to be no less than £1.4million, compared to a pre-tax profit of £1.1m for the same period last year – an increase of at least 27%.
“The full year profit for the year ended June 30, 2015 was £2.6m. The board believes that performance continues to be in line with market expectations.”
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Mr Swinney added that the company expected cash generation, before payment of a special dividend during August and the final dividend payable on December 18, would be in excess of £1m for the six month period.
“Growth is coming from all areas of the business and we are particularly pleased with our progress in China and Hong Kong,” he said. “We are satisfied with the progress that is being made on our United States regulatory approval programme.”
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Tristels unaudited interim results are due to be announced on Wednesday, February 24, 2016.