Newmarket: Tristel back in the black during second half
CONTAMINATION control and hygiene products company Tristel yesterday reported a return to profit during the second half of its financial year.
In a pre-close statement ahead of annual results due to be published in October, Tristel, which is based at Snailwell, near Newmarket, said revenues for the six months to June 30 were 40% up on the first half.
It now expected to report an adjusted pre-tax profit of more than £900,000 for the second half, compared with a loss of £600,000 during the first-half which saw a restructuring of the company.
This would result in full-year revenues of around £10.6m and an adjusted pre-tax profit of more than £300,000, it added.
Tristel, which supplies the human healthcare, animal healthcare and contamination control markets through its anges: Tristel, Anistel and Crystel brands, said the second half had also seen a return to postive cashflow, with net cash of £500,000 at the year-end compared with borrowings of £400,00 at the half-way stage.
“The board is pleased to report that the company has delivered an improved performance in the second half,” said Tristel in statement.
“Strong sales growth in combination with the restructuring programme completed in the first half has delivered a return to profitability and positive cash generation.”
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It added: “In human healthcare, the Tristel instrument wipes and surface disinfection products are gaining increased acceptance within the UK and in overseas markets.
“International sales were £2.4m, representing 30% of total sales of Tristel branded products (£8m).”
Chief executive Paul Swinney said: “We are delighted with the improved performance in the second half and, whilst we are conscious of the need to demonstrate that this performance is sustainable, we remain cautiously optimistic for the future earnings growth potential of the company.”