Newmarket: Tristel vows to bounce back after posting loss
INFECTION control products company Tristel today posted its first trading loss since becoming a public company in 2005, but said it expected to return to the black during the second half.
Tristel, based at Snailwell, near Newmarket, reported a pre-tax loss of £642,000 for the six months to December 31, against a profit of £262,000 for last year’s first half, on revenues down from £5.061million to £4.402m.
The company blamed the fall on a quicker than expected decline in sales of its “product life-cycle expired” endoscopy cleaning fluid, but said sales of newer products, including its patented wipes system, were continuing to grow.
A round of savings has seen the company’s headcount at Newmarket reduced by six to 86, with a six further roles cut overseas.
The company, which supplies the human and animal healthcare markets, now expects to return to profitable trading during the second half of the current year, and to return to revenue growth in 2013-14, assisted by recent approval for its wipes system in China.
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Chief executive Paul Swinney said that investments to restructure and reposition the group in new high-growth areas were now “bearing fruit”.
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