26th Feb 2024 09:50
(Alliance News) - Tristel PLC on Monday looked "positively" to the future, highlighting opportunities in the US after reporting a strong first half.
For the six months ended December 31, the Cambridgeshire, England-based infection prevention product manufacturer reported pretax profit of GBP3.4 million, up 44% from GBP2.4 million a year prior.
During the half, sales, general, and administrative expenses rose 27% to GBP11.9 million from GBP9.5 million. Tristel attributed this to a combination of inflationary increases and the recruitment of an additional 27 staff into its sales, marketing and distribution teams.
Revenue rose 20% to GBP20.9 million from GBP17.5 million. According to Tristel, higher sales volume accounted for GBP1.5 million of this growth, and price increases for the remaining GBP1.9 million.
The firm declared an interim dividend of 5.24 pence, doubled from 2.62p a year prior.
Pertinently, Tristel managed to secure in this period clearance from both the US Food & Drug Administration and Health Canada to sell Tristel ULT, its disinfectant foam. It plans to make a 510(K) submission to the FDA for this product during the summer, and expects clearance by the end of the year.
Separately on Monday, Tristel also said that reviews in the UK and the EU for approval of its TANK chlorine dioxide sporicidal disinfectant system have been successfully concluded, and a positive recommendation for UKCA and MDR certification has been made.
It expects to officially launch these latest products in Europe before the current financial year ends on June 30.
Looking forward, Tristel said that - with North America now "an active territory", and with further product approvals in the pipeline - the business is in "good shape".
Tristel shares were trading 8.6% higher at 488.80 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.