11th Dec 2018 10:53
LONDON (Alliance News) - Infection and contamination prevention firm Tristel PLC said Tuesday it expected its half-year profit to grow despite being held back by a recent acquisition.
For the six months ending December, Tristel expected pretax profit - excluding share-based payments - to be "no less" than GBP2.2 million.
The year prior, Tristel reported pretax profit before share payments of GBP2.0 million on revenue of GBP10.7 million. Including share-based payments, pretax profit stood at GBP1.8 million.
"The expected pretax profit figure takes account of the transaction costs arising from the acquisition of the Ecomed companies which we concluded last month; but it will include only one full month's revenue and profit contribution from them," Tristel Chief Executive Officer Paul Swinney said. "Our integration of these new French and Benelux businesses is progressing well."
In November, Tristel acquired Ecomed Group - which includes Ecomed Services NV, Ecomed Nederland BV and Ecomed France Sarl - for up to EUR6.8 million in a cash and shares deal. Of this, EUR1.8 million is a deferred consideration.
"The company is performing in line with management's expectations and our United States regulatory approvals project is progressing as planned", Swinney added.
Shares in Tristel were 4.3% higher at 245.00 pence on Tuesday.
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