Tristel still on track despite dip in profit
INFECTION and contamination control products manufacturer Tristel yesterday posted annual results in line with expectations.
Tristel, based near Newmarket, reported sales of �9.29million for the year to June 30, up 6% from �8.76m the previous year.
Pre-tax profits fell from �1.72m last time to �508,000 but the company said that this reflected investment for future growth, with its gross margins remaining stable at around 64%.
Earnings per share fell to 1.27p, from 3.84p the previous year, which Tristel said was due to the lower profit and an increase in the number of shares in issue following a round of equity fundraising. The dividend for the full year will fall from 1.825p to 0.555p per shares.
The past year has included expansion of the firm’s Newmarket production facility to double its capacity and establish clean room manufacturing.
Overseas sales grew by 34% to top �1m for the first time, with new regulatory approvals received in China, Hong Kong, Germany, and Australia.
Chief executive Paul Swinney said: “We are disappointed that our five year record of continuous profits growth has been broken. However, the interruption is explained by the ambitious growth plan that we executed during the year: the expansion of our manufacturing plant and construction of a clean room, and increased investment in overseas markets.”