Tristel bumps up underlying profit guidance; forecasts £0.8m asset writedown

Wed, 21st Jul 2021

Infection prevention products group Tristel nudged up its annual profit guidance after the rate of hospital admissions for non-Covid-related conditions began to recovery. Pre-tax profit for the year through June, before exceptional items, was now expected at at £5.5 million, on revenue of $31 million. That compared to previous guidance, given in April, of a pre-tax profit no less than £5 million, also on sales of £31 million. 'As the fourth quarter progressed, demand for the device-based products accelerated as hospital out-patient departments gradually returned to pre-pandemic levels of activity,' Tristel said. 'Surface disinfectant product sales have continued to grow.' Tristel also announced that it would write off the value of an equity investment in a medical device company focussed upon women's health to the tune of £0.8 million. The company had made the investment in 2017 and subsequently tried to find a buyer for its stake, but had not been successful selling it to date. Story provided by StockMarketWire.com

FTSE 100 Latest
Value7,031.27
Change-32.13