Profits rise at healthcare firm
A SPECIALIST healthcare products firm has seen a rise in its yearly turnover and profits in spite of a “challenging” year.
Newmarket-based Tristel saw its turnover rise by 18% to �10.9million, and its pre-tax profits increase by 14%, or 48% adjusted, during the year ending in June 2012.
The firm suffered a setback after a customer for whom it manufactured animal disinfection and cleaning products decided to set up its own manufacturing facility.
But chief executive Paul Swinney said Tristel, which employs 65 staff at its recently-expanded headquarters and manufacturing site at Snailwell, near Newmarket, has fought back.
It has created its own brand for its animal-related products and is now tapping into new markets across the UK’s 10,000 kennels and catteries and 4,000 veterinary practices, he said.
You may also want to watch:
“It’s a stirling effort to have quickly created lots of new product identities,” said Mr Swinney.
Around 83% of Tristel’s business is through its branded infection control and hygiene products aimed at the hospital and healthcare market.
- 1 ‘Demolition Man’ Cook tells vast majority of Ipswich Town squad to find new clubs
- 2 Mum-of-four with 'beautiful soul' dies after collapsing in the street
- 3 Takeaway contaminated food with raw meat and sold items past use-by date
- 4 Film crews spotted in Ipswich town centre
- 5 Royal visit from Princess Anne marks Suffolk Wildlife Trust 60th anniversary
- 6 Couple transform historic building near coast into new bed and breakfast
- 7 'Beautiful inside and out': Tragedy as mum dies 48 hours after giving birth
- 8 Steam locomotive back in Suffolk for anniversary trips
- 9 Fake parking fines handed out in Stowmarket
- 10 Ipswich Town reveal full retained list as six first-teamers get extended stays and eight depart
It has set up selling operations in Germany, China and Russia and these will are now moving into profitability, said the CEO.
Mr Swinney said it was a “great set of results” and the firm was now selling its products around the world, competing with well-known multi-national companies.
Chairman Christopher Samler said it had been “a particularly challenging year” for everyone at Tristel.
The firm was conducting a “root and branch” review of its entire operation, including its board make-up, he said, and was looking forward to further growth in 2013 and beyond.
“The financial results for 2012 indicate modest but welcome growth in both revenue and profit before tax,” he said.
But he added: “Whilst these results are in line with our revised guidance, they are far from where a company of our ambition should be. Our board recognises this and is determined that we return to the growth pattern and expectation that we have seen in the year prior to 2010.”